Gain-on-sale margins are rich these days, as evidenced by Mr. Cooper’s recent SEC disclosure. Is this a one-off or something that could last for years?
Mortgage servicing rights have little value in today’s secondary market, but investment bankers predict that one day, maybe soon, this volatile asset will once again rise from the ashes.
During a House committee roundtable, the Mortgage Bankers Association requested Congress for a funding facility for servicers and legislation to help lenders with mortgages that entered forbearance soon after closing.
Mortgage servicers and credit unions are worried that if a new California forbearance bill becomes law their bottom lines will be significantly impacted. The bill would greatly extend the forbearance period.
The Consumer Financial Protection Bureau issued a no-action letter template for mortgage servicers to use when digitizing their loss-mitigation process.