Commercial banks and savings institutions once again reduced their holdings of mortgage servicing rights during the first quarter of 2018, according to an Inside Mortgage Trends analysis of call-report data. [Includes one data chart.]
Trading in mortgage servicing rights is as good as it’s been for years, but it remains a small market full of pricing and transactional irregularities, according to industry experts speaking on a panel at the secondary market conference sponsored by the Mortgage Bankers Association last month.
For years, values on Ginnie Mae mortgage servicing rights have lagged behind the prices paid for Fannie Mae and Freddie product, but finally it appears the government market is catching up.
Ditech CEO Tom Marano: “I am pleased with the improving performance of our servicing business; however, I am disappointed with the performance of the origination business...”
The trade group argues that if lenders organized as pass-through entities do not receive the new deduction, they will be at a competitive disadvantage...
Interim CFPB chief Mick Mulvaney: “We are still closely associated with Sen. Elizabeth Warren. We are her baby. That’s not where a gold-standard regulator should be.”
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