City National hopes to get in on the ground floor of a turnaround in MSR-backed lending. The federally insured depository is joining other warehouse providers that play in the space, but there are risks.
It’s status quo when it comes to mortgage banking M&A activity — and that’s not a good thing if you’re looking to sell. For now, it’s all about asset sales, mortgage servicing rights in particular.
OSHA has ordered PrimeLending to pay back wages to two employees who were subject to retaliatory actions after they raised concerns related to consumer fraud.
Hunterbrook Capital is going after United Wholesale Mortgage, lobbing allegations and shorting stock in the nonbank; Michael Barr, vice chair for supervision at the Fed doesn’t find the rhetoric regarding bank capital requirements particularly useful; Ocwen plans to rebrand as Onity.
The Urban Institute, with funding from the National Fair Housing Alliance, has developed resources lenders can use to launch special purpose credit programs.
The National Association of Realtors’ recent settlement could prompt a decline in the commission of a homebuyer’s real estate agent. The change could put pressure on both homebuyers and lenders.
Vendors that ply their trade in the subservicing arena aren’t growing very quickly these days, though there are exceptions. Meanwhile, M&A activity has resulted in some attrition and more could be on the way. (Includes data table.)
Statements by President Biden indicate that, if he is re-elected, reducing housing costs will be a priority for the administration. If Trump returns, the regulatory environment is likely to be accommodative for lenders.
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