If the National Flood Insurance Program is allowed to lapse mid-November, the impact could extend beyond single-family lending, the Congressional Research Service has warned.
What are nonbanks getting for their servicing rights in the secondary market and how much of a right does Fannie Mae have to that information? Hard to say, but some factions of the industry are bristling at inquiries from the GSE.
With interest rates continuing to head north, servicing-related assets are becoming more valuable in a parched origination landscape. SLS, a large servicer, will have a new parent and other deals may be in the works.
A handful of top servicers fell out of the market during the second quarter, while banks reported a huge gain in their ARM portfolios. (Includes three data charts.)
Trade groups representing large banks and mortgage lenders warn that a July proposal to increase capital requirements for large banks could push depositories further from the mortgage market.
MSR prices, especially for conventional low-coupon product, have firmed up nicely. Some large holders are cashing in. But others are choosing to live off processing income until originations snap back.
High interest rates are helping demand for mortgage assumptions. A start-up is helping homebuyers connect with sellers that have low-interest-rate mortgages.
The business of subservicing loans for others continued apace in the second quarter with modest growth. The good news: Delinquencies are low but some lenders that source the loans are going bust. (Includes data chart.)
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