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FHFA Clarifies: Impac’s MSR Sale Was Not Forced

May 7, 2020
Paul Muolo
Impac Mortgage Holdings is about to unload what’s left of its MSR assets. Meaning?
Read More

Servicers Tap Prepayments; Relief From Agencies Limited

May 7, 2020
Brandon Ivey
The gap between when prepayment proceeds are received and when the funds must be transferred to agencies provides an opportunity for servicers to use the funds for forbearance-related advance payments.
Read More

COVID-Related Charges Tank GSE Earnings

May 7, 2020
Dennis Hollier
A 91% drop in GSE earnings during 1Q has raised concerns about their second-quarter performance and exit from conservatorship.
Read More

Mortgage Applications Slow in COVID-19 Hot Spots

May 7, 2020
Brandon Ivey
States with a higher case rate of coronavirus infections saw a larger drop in purchase-mortgage applications in March, according to the CFPB.
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Guaranteed Rate Settles FHA Underwriting Violations

May 7, 2020
Maria Volkova
A whistleblower-initiated investigation has resulted in Guaranteed Rate agreeing to pay $15 million for violating False Claims Act rules.
Read More

Lawmakers Ask Servicers to Provide Consistent Information

May 7, 2020
Maria Volkova
The House Financial Services Committee has asked servicers to disseminate consistent information about pandemic-related forbearance options.
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COVID-19 Fallout Hammers Freddie’s 1Q20 Revenue

April 30, 2020
The economic damage caused by the pandemic took a bite out of Freddie’s first-quarter results. More trouble lies ahead, including forced MSR transfers.
Read More

Mr. Cooper Exits Wholesale. A One-Off or a Trend?

April 30, 2020
Paul Muolo
When the going gets tough, the wholesale channel is often the first to go. Mr. Cooper this week shuttered its broker platform, but will other table-funders follow suit?
Read More

Servicers Appeal to Congress for Help

April 30, 2020
Brandon Ivey and Dennis Hollier
After failing to get help from federal agencies, nonbank servicers’ lobbying efforts for a liquidity facility have shifted to Congress.
Read More

Title Insurers 1Q Earnings See Mixed Impact of COVID-19

April 30, 2020
Yemeng Yang
Investment losses dented title insurance underwriters’ bottom lines in the first quarter of 2020. However, the refinance boom boosted their order volume.
Read More
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