State Farm, the nation’s largest writer of home insurance, cited inflation, wildfire risk and a challenging reinsurance market as reasons for its exit from the home insurance business in California.

MISMO is helping to facilitate collaboration between servicers and federal regulators to improve the servicing transfer process. The CFPB is also keeping a close eye on complaints tied to servicing transfers.

First the good news: Several shops are experiencing a strong second quarter, with production on the rise sequentially. Then again, the first quarter was notably weak. As for the rest of the year, executives are hopeful rates are about to peak.

Lenders that focus on non-qualified mortgages are expanding the credit box to reach more borrowers.

The future of servicer/subservicer Select Portfolio Services remains cloudy after its owner turned down bids on some of its MSRs.

The Mortgage Bankers Association this week raised concerns with the Department of Housing and Urban Development about its proposed property standards for new construction and substantial renovations of FHA-insured properties located in a floodplain.

At a non-QM conference this week, leaders of non-QM operations detailed the importance of education for lenders looking to expand their book of business.

Gig economy workers offer a new type of self-employed borrower for lenders to approach, but they come with their own set of underwriting challenges.

Since the first quarter of 2022, the top 30 servicers of non-agency jumbo mortgages have grown their jumbo portfolios by 11.8%. (Includes data chart.)

Legislation in 12 states may impact the buying power of foreign nationals from seven countries.