The key concern among the industry is the GSEs’ reliance on loan-to-value ratios and debt-to-income ratios. They recommend Fannie and Freddie develop alternative underwriting criteria for low-income borrowers.

Once confirmed, Rohit Chopra, who is no newbie to the CFPB’s workings, is expected to waste no time getting the bureau’s rulemaking and enforcement machinery ticking.

Two key factors in MSR deals increasing: rates firming up a bit and the calendar. Yearend isn’t all that far away.

Many of the borrowers facing the end of their forbearance plans are struggling financially. Servicers say they’re ready to help, and for those who can’t resume payments there’s home price appreciation to bank on.

Freddie finds trends of bias in appraisal practices; Freedom Mortgage and Mr. Cooper will allow employees to work from home long term.

Wells Fargo could clean up as a seller of mortgage servicing rights (if it wanted to) but a new round of sanctions is clouding its future in residential finance.

A risk-based capital regime could be in the works for Fannie and Freddie, though some GSE watchers suggest the whole exercise could be in flux. Meanwhile, Wells Fargo has a new servicing chief, Ann Thorn from Caliber Home Loans.

Subservicers have shown steady gains the past few years but they could be inundated with new work — and headaches — if COVID-related foreclosures turn ugly once the federal moratoria end. (Includes data chart.)

For servicing auctions to truly proliferate, the Federal Reserve would need to end its stimulus program. In other words, if rates don’t rise much from here, deal volume could be muted. Meanwhile, buyers with cash are waiting.

The total delinquency rate fell by 155 basis points between March and June, according to Inside Mortgage Finance’s Large Servicer Delinquency Index. Still, close to 1.5 million borrowers are more than 90 days past due. (Includes data chart.)