Mr. Cooper hopes to surpass the $1 trillion mark as a servicer/subservicer, an event that could happen by yearend if it keeps gobbling up portfolios. Meanwhile, there’s plenty of MSRs to buy.

The CFPB issued an advisory opinion to limit foreclosures on “zombie” second mortgages, noting that many would be past the statute of limitations.

In what appears to be a response to recent bank failures, Freddie has said servicers are responsible for any losses out of custodial accounts if a depository goes bankrupt.

The earlier-than-expected end of the COVID national emergency has brought additional regulatory pressure on mortgage servicers.

Rising interest rates limit demand for mortgages; home prices increase; few borrowers remain in forbearance; foreclosure activity up slightly.

Prepayment speeds are at historic lows, but Fannie reported a net decline in single-family MBS outstanding during the first quarter, and Freddie was up just 0.1%. (Includes two data charts.)

The bank liquidity crisis — although it had nothing to do with mortgages — slowed activity in the MSR sales arena. However, some buyers, including federally insured depositories, hung in there, picking up bargains.

Home Point, which once boasted a workforce of several thousand, soon will be down to a skeleton crew of 60 or so. Chances are, it will sell its servicing portfolio and call it a day. But it may not be alone on that score.

Both Fannie and Freddie made significant strides in meeting the objectives laid out in their 2022 equitable housing finance plans, according to progress reports released by the enterprises.

Industry stakeholders have welcomed the FHFA’s plan to make payment deferrals a regular part of loss mitigation. MBA suggested more standardization of workout options is in order.