Most subservicing vendors continued to see a growth in contracts during 3Q19, but a few specialists are heading for the exits: Ditech (via a bankruptcy sale) and RoundPoint, which is being bought by Freedom Mortgage. (Includes data chart.)
The agency one-family servicing market grew 1.8% during the third quarter, more than twice the increase in total single-family mortgage debt outstanding over the same period. (Includes two data charts.)
Freddie Mac, following in the footsteps of Fannie Mae, is offering buyouts to a portion of its workforce. A byproduct of the recap-and-release plan? It certainly looks that way.
Analysts say homeowners are sitting on $6.2 trillion of home equity that could be converted to cash. But for many, refinancing is a better choice than a HELOC. (Includes three data charts.)
The Financial Stability Oversight Council noted the risks posed by nonbank mortgage firms in its latest annual report. But are FSOC's concerns overblown? Trade groups weigh in, as does Treasury Secretary Mnuchin.
Investment bankers that buy and sell mortgage servicing rights are starting to feel like the Maytag repairman. But deal activity is set to improve in the first quarter of 2020, or so they hope.
Delinquencies continued to decline in the third quarter, helped by a strong employment market and economic growth. However, there are some signs that late payments might inch upwards. (Includes data chart.)
The CFPB plans to assess the effectiveness of the integrated mortgage disclosure rule, which is almost five years old. But be forewarned: It will not necessarily lead to elimination, or even modification.