Although depository institutions continued to account for the lion’s share of the mortgage servicing market, nonbank servicers continued to gain ground in late 2014, according to a new market analysis and ranking by Inside Mortgage Finance. Banks, thrifts and credit unions accounted for 71.8 percent of the $7.351 trillion of home mortgages serviced by the 50 largest players in the market as of the end of last year. Nonbank servicers accounted for 28.2 percent of the group total, up from 25.9 percent at the end of 2013. That’s...[Includes two data charts]
A long-awaited proposal from the Federal Housing Finance Agency that would codify minimum net worth and liquidity requirements for Fannie Mae and Freddie Mac seller/servicers received mostly good reviews from the industry, but there are concerns about some of the details. For the Mortgage Bankers Association, the chief worry centers around the agency’s liquidity requirements. Released late last week, the FHFA is asking...[Includes one data chart]
Two Harbors is a member of the FHLB system via a captive insurance affiliate. The Federal Housing Finance Agency is contemplating snuffing out this avenue of membership...
In its 8-K filing with the SEC, Ocwen revealed that during 2014, state regulators commenced 46 examinations “of one or more of our areas of operation…”
The nation’s largest nonbank servicer revealed that during 2014, state regulators commenced 46 examinations “of one or more of our areas of operation…”
Among the top 10 residential servicers, just three firms managed to grow their receivables from the third to fourth quarter: Quicken, Walter and U.S. Bank Home.
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