Investors and analysts are starting to wonder if Nationstar Mortgage bit off more than it could chew with its multi-billion dollar servicing purchases of the past two years. Sources say the company recently hired PricewaterhouseCoopers as a consultant to look at its quickly growing $375 billion servicing portfolio. A spokesman for the company dismissed...
Mortgage delinquency rates reached a five-year low during the third quarter of 2013, according to the Inside Mortgage Finance Large Servicer Delinquency Index. A group of 19 lenders that serviced $5.33 trillion of home loans reported that just 6.78 percent of those loans were in some stage of delinquency or default. That figure, which is not seasonally adjusted, was the lowest rate in the index since the third quarter of 2008. The overall delinquency rate improved...[Includes one data chart]
One trade group official told Inside Mortgage Finance that despite efforts by the Federal Housing Finance Agency to create g-fee parity for lenders of different sizes, there has been little in the way of progress.
The frothy prices being offered for MSRs are beginning to cool somewhat. “There’s definitely a tighter range on bids lately,” said Matt Maurer, managing director of MountainView Servicing Group.
Paul Rozo, who runs PRMG, told us that he is not a big fan of call centers and that every LO in his organization is a “hunter,” a sales person “who relies on referral business and/or handling their own marketing."
Buyback resolutions declined by 28 percent from the second quarter, even as the government-sponsored enterprises wrapped up large-scale settlements with a handful of their largest sellers.
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