Conventional nonbank lender/servicers have been closed out of the IPO market for several years now. But if you fall into the nonprime category, it’s a different picture. Velocity is about to test the stock market waters.
FHFA Director Mark Calabria walked back the idea of using a consent decree as part of the agency’s plan to recap and release Fannie and Freddie from conservatorship.
Rates were lower at yearend than Sept. 30, which means MSRs owners can relax and take profits on the asset. Next week, when the megabanks begin reporting 4Q results, we’ll know just how good the numbers are.
Nonbank fintech lenders put a greater emphasis on borrowers with low credit scores and in areas underserved by banks, according to research pub-lished by the Federal Reserve Bank of Philadelphia.
Mortgage firms must remain vigilant over possible cyber attacks by Iranian hackers in retaliation for the killing of the country’s top military commander, U.S. financial regulators warn.
New Jersey clarified that investors in mortgage servicing rights must obtain a “servicer” license in the state even if they do not handle the monthly processing chores.
Most subservicing vendors continued to see a growth in contracts during 3Q19, but a few specialists are heading for the exits: Ditech (via a bankruptcy sale) and RoundPoint, which is being bought by Freedom Mortgage. (Includes data chart.)
2019 seemed like a slow year for mortgage-related acquisitions, but if you look beneath the surface, deals were getting done, particularly in the non-QM sector.
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