The evolution of the agency mortgage-servicing market isn’t over, though it appears to have settled into a long-term transition by attrition. At the end of 2016, depository institutions serviced some $3.584 trillion of single-family home loans committed to mortgage-backed securities guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae. That was down 1.0 percent from September, a period during which the supply of agency MBS debt outstanding was growing. The depository share of agency MBS servicing fell...[Includes two data tables]
One mortgage insurance lobbyist, when informed of the possibility, called it “great news” while two lenders we interviewed said it was an awful development…
NY Acts to Hold Banks and Mortgage Servicers Accountable for Maintaining “Zombie Properties.” The New York Department of Financial Services recently finalized a regulation intended to protect communities from the blight of “zombie properties” by requiring banks and mortgage servicers to report and maintain vacant and abandoned properties.... Mortgage Servicers Face New Licensing Requirement in Kentucky. The Kentucky Department of Financial Institutions has decided to require both master servicers and subservicers to obtain a license as a mortgage loan company with the KDFI if the loans being serviced are secured by residential real property located in the state....
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