Mortgage performance improved across the board during the fourth quarter. However, the forbearance rate has been stagnant since November, leading to concerns about foreclosures when moratoriums on such actions are lifted. (Includes data chart.)
Among the top 50 players in mortgage servicing, nonbanks saw their portfolios grow 5.7% from the third to the fourth quarter. Depositories posted a 2.9% decline. (Includes two data charts.)
The NCUA board in December voted 2-1 to allow federal credit unions to acquire MSRs from other FCUs. The lone dissenting vote came from Todd Harper, who was just appointed NCUA chairman.
With Wells Fargo being less aggressive these days, mortgage competitors feel emboldened to make offers to its best and brightest. A temporary situation?
Close to 25% of mortgages in forbearance plans will hit the end of their relief period in March, with more expirations in April and beyond. Problem: Many of the borrowers in forbearance are delinquent.
Record loan production translates into record paychecks for CEOs. Right? If there’s an IPO involved, yes, but there are exceptions. (Includes data chart.)
Suddenly, it’s a great time to sell servicing rights. But if too many offload receivables at the same time, prices could suffer. A conundrum in the making?
The fund could be modeled after the Hardest Hit Fund, providing funds to state housing finance agencies to help borrowers bring their mortgages current.
Democrats on the Senate Banking Committee are putting pressure on FHFA to answer whether the GSEs’ NPL sales impact homeowners’ access to foreclosure and forbearance protections under the CARES Act.
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