In the end, the Federal Reserve will step in to fund nonbank MBS servicers if push comes to shove. At least, that’s what the mortgage industry is banking on.
Among the top five agency MBS issuers in the first quarter, three were nonbanks: Quicken, PennyMac and UWM, according to exclusive figures from Inside Mortgage Finance...
Megaservicer Mr. Cooper anticipates a large MSR mark for the first quarter, thanks to lower rates and COVID-19. The big question: How bad will it be for the rest of the industry?
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