It remains to be seen whether the mortgage servicing market actually grew in the third quarter of 2015, but it’s clear that distribution within the industry continued to shift. The top 50 mortgage servicers had a combined portfolio of $7.300 trillion, including whole loans in portfolio and mortgage servicing rights, at the end of September, according to a new ranking and analysis by Inside Mortgage Finance. That was down 0.2 percent from total servicing held by the top 50 companies at the end of the second quarter. The final word on mortgage debt outstanding comes...[Includes two data tables]
A mortgage executive who works in the Florida market said he is tired of seeing his deals slowed down because a title company owned by a builder was forced upon a borrower.
The sale is notable not only for its size, but for the fact that MBS and Morvest – partners on this auction – don’t normally sell servicing rights as part of their advisory practices.
Most of the participants in the housing finance industry think they are being hobbled by over-regulation, and the chief culprit is the CFPB, according to a new survey from The Collingwood Group, a consultancy in Washington, DC. Among the mortgage industry professionals surveyed, 72 percent named regulation as the top issue that is negatively affecting their origination volume. “CFPB regulation, in particular, was the most common cited source of negative influence,” Collingwood said. “Survey respondents complained that while the CFPB is generating new regulations that are designed to protect the consumer, the costs to comply with new rules result in higher rates and fees for borrowers,” according to the survey. “In many cases, well-intended regulations end up being more harmful ...
First Republic Bank has contributed at least 21.3 percent of the loans that have been included in jumbo mortgage-backed securities issued in the first nine months of this year, according to a new ranking and analysis by Inside Nonconforming Markets. The bank was identified as having contributed $2.18 billion into jumbo MBS issued in the first three quarters of 2015, including $619.19 million in the third quarter. First Republic’s contributions to jumbo MBS issued in the third quarter alone topped the contributions of any other lender in the first nine months of the year. Jumbo MBS issuers and rating services generally disclose...[Includes two data tables]
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