Mortgage performance improved in the first quarter of 2017, recovering from a somewhat unexpected increase in delinquencies at the end of 2016. The total delinquency rate in the Inside Mortgage Finance Large Servicer Delinquency Index was 4.28 percent as of the end of March, down from 5.05 percent at the end of the previous quarter and improving on the 4.95 percent delinquency rate recorded in March 2016. Among the 32 servicers in the large delinquency index, only two reported...[Includes one data table]

Transfers of servicing from large servicers to smaller firms can help improve loss mitigation performance while introducing new risks to the system, according to industry analysts. Smaller servicers tend to be more “nimble” than large servicers and are better suited to handle distressed mortgages, according to analysts at Moody’s Investors Service. The rating service published a report recently highlighting changes in the servicing industry. Many large servicers, predominantly banks, have reduced...

The Financial Services Roundtable recently called for enacting comprehensive housing finance reform, including reform of the FHA’s single-family mortgage insurance program while focusing the agency’s mission on first-time and low- and moderate-income borrowers. The FSR’s call came in a detailed response to President Trump’s executive order earlier this year directing the Treasury Department to conduct an assessment of financial regulations. For starters, the trade group urged...

Specifically, HUD wants to know if there are any regulations that should be repealed, replaced or modified.

All three hope to raise cash by selling MSR assets, eliminate the need to hold large sums for servicing advances and – importantly – buy some time.

Deutsche noted that after years of a steady broad-based housing market recovery “investors are now facing severe shortages in distressed housing pipelines.”

This fall will mark – unless there’s divine intervention or a Kumbaya moment in Washington – the ninth anniversary of the federal takeover of Fannie and Freddie.

In other words, Ocwen should have told shareholders that there was an MOU with the MMC.

Out as CEO is Brian Hale, who helped groom the company for much of this decade. Hale is departing for a new venture called DCC Holdings.

Ryan went on to say it would be a limited buffer, but it should be large enough to help cover and avoid a draw...