Agency seller/servicers have a new set of net worth requirements to adhere to. The good news: The final language is close to what was originally proposed.
When it comes to default management hires, subservicer Cenlar has been a busy bee, adding a handful of new VPs. Is it expecting an increase in delinquencies or is something else afoot?
The total delinquency rate stood at 3.44% as of the end of June, among the lowest levels seen since the launch of Inside Mortgage Finance’s Large Servicer Delinquency Index in 2003. (Includes data chart.)
Cenlar, the nation’s largest subservicer, has a new leadership team. The move comes roughly 10 months after federal sanctions were filed against the firm.
The top five servicers saw almost no growth in their combined owned servicing during the second quarter. But a number of companies in lower tiers posted big gains. (Includes three data charts.)
The REIT’s investments in MSRs increased by 20.2% in the second quarter, based on unpaid principal balance, to $109.0 billion as of the end of June. Annaly sees the assets as a nice hedge to its traditional investments in agency MBS.
The federal government should move forbearance to the front of the loss-mitigation waterfall, researchers at the Urban Institute proposed. A similar policy during the pandemic did more good than harm, they found.
RSS