Industry analysts are divided on how the Current Expected Credit Loss model accounting standard will impact mortgage lending by banks. The model, established by the Financial Accounting Standards Board in 2016, is set to take effect in 2020. The accounting standard will apply to loans held in portfolio. It requires upfront recognition of credit losses using long-term economic forecasts but doesn’t allow upfront recognition of future revenues associated with a loan ...

With the ink still dry on the January calendar, Mr. Cooper said it would buy Seterus and its $48.0 billion servicing platform. Now comes the big question: Which firm or portfolio is next on its buy list? As Inside Mortgage Trends went to press this week, several large bulk packages of mortgage servicing rights were ready to hit the auction market, including two that are north of $10 billion. The Seterus sale was announced on Jan. 3. Investment bankers immediately started speculating ...

The Money Source Inc., Melville, NY, is exiting the retail and wholesale channels to focus its resources on growing its servicing business and correspondent platform. In an interview with Inside Mortgage Trends, TMS President Ali Vafai noted that AmeriSave Mortgage Corp., Atlanta, bought the retail platform with the wholesale division landing elsewhere. The buyer of the latter has yet to be revealed and negotiations are continuing, said Vafai. No purchase price was disclosed on ...

Production of new non-agency MBS fell sharply in the fourth quarter, ending a year that still set a post-crisis record for new issuance. [Includes three data charts.]

The Consumer Financial Protection Bureau needs a systematic process to prioritize consumer risks and focus its resources to address them, the Government Accountability Office said in a new report.

Fannie and Freddie securitized $66.89 billion of single-family loans with private MI coverage during the fourth quarter…

New Residential also will buy non-QMs from lenders other than New Penn...

Bright will earn significantly more working for SFIG than at Ginnie, easily doubling his salary and then some...

Movement said the acquisition “significantly” expands its presence in the Pacific Northwest and Mountain West…

The flow of conventional mortgages with private mortgage insurance coverage into Fannie Mae and Freddie Mac mortgage-backed securities fell sharply in the fourth quarter – tracking a broader slump in purchase-mortgage business. [Includes three data charts.]