Director Rohit Chopra noted borrower hardships due to excessive paperwork, as well as fees and negative credit reporting events that occurred while a loss-mit application was under review.

The tide is starting to turn in favor of servicing sales where higher note rates are involved. Don’t expect premium prices or a tsunami of deals, but at least it’s an outlet.

The inspector general found fault with how the industry in general and Mr. Cooper in specific handled pandemic-era loss mitigation.

Cenlar, the big kahuna of subservicing, could be poised for explosive growth. There’s just one problem: The outsourcer is still operating under OCC-imposed limitations. But for how much longer?

Banks continued to build their retained mortgage portfolios, but mostly with fixed-rate mortgages, while borrowing costs rose significantly. The agency MSR market is slowly shifting toward higher-coupon loans. (Includes three data charts.)

CFPB Director Rohit Chopra said the mortgage market would see severe disruption if the Supreme Court finds the bureau’s funding structure unconstitutional.

The increase in usage of home equity lines of credit suggests that consumers are facing some financial difficulties, the NCUA has warned.

MISMO is helping to facilitate collaboration between servicers and federal regulators to improve the servicing transfer process. The CFPB is also keeping a close eye on complaints tied to servicing transfers.

The future of servicer/subservicer Select Portfolio Services remains cloudy after its owner turned down bids on some of its MSRs.

Some experts expect MSR trading to top $1 trillion in each of the next three years, surpassing the approximately $900 billion traded in 2022.