For the most part, subservicing growth has been slow, thanks to booming MSR sales and some non-traditional servicing owners shifting strategies. Cenlar, though, remains the nation’s number one subservicer. (Includes data chart.)
Thanks to the spike in MSR sales this year, reviews of the underlying collateral are backing up, causing delays in portfolios being transferred to new owners. Implications?
Based on insider information about a then-undisclosed data breach at Equifax, Lawrence Palmer and Jerrold Palmer through accomplices had shorted shares of the company.
Agency seller/servicers have a new set of net worth requirements to adhere to. The good news: The final language is close to what was originally proposed.
When it comes to default management hires, subservicer Cenlar has been a busy bee, adding a handful of new VPs. Is it expecting an increase in delinquencies or is something else afoot?
The total delinquency rate stood at 3.44% as of the end of June, among the lowest levels seen since the launch of Inside Mortgage Finance’s Large Servicer Delinquency Index in 2003. (Includes data chart.)