Where are home prices going? Is a recession going to lead to higher delinquencies? Mortgage industry participants are having a hard time answering these questions.
It’s been tough sledding for Finance of America this year but it has plenty of company. Then again, the shop is under extra scrutiny since it was once the property of The Blackstone Group.
Nonbanks continued to broaden their footprint in agency mortgage servicing during the third quarter, particularly the Ginnie market. Bulk MSR acquisitions played a role in that.
Nonbanks have been concerned about Ginnie’s new capital standards, but perhaps the agency has seen the light? Or at the very least, a compromise? Meanwhile, MSR auctions are picking up a head of steam.
Servicing rights to the rescue again? The third quarter is in the rearview mirror and it’s time for MSR owners to assess the asset value. But just how cautious should owners be? Some advisors worry.
Rushmore Loan Management is exiting the servicing arena but details are light regarding who might control its multi-billion-dollar MSR portfolio. For now, management isn’t saying a word.
Jonathan Kolodziej, an attorney at Bradley, believes the RFI is a significant opportunity for the mortgage industry to have a say in any future regulatory framework related to refinances and loss mitigation.
Banks, thrifts and credit unions all reported sizable increases in their retained single-family mortgages. And home-equity debt outstanding was up for the first time in 14 years. (Includes two data charts.)
RSS