Last week, word began to leak out that Caliber Home Loans was talking to New Residential Investment Corp. about a deal. Turns out, the sale chatter was true.
SoftBank places a $500 million bet on the digitization of residential finance by taking a stake in Better.com. Also, mortgage earnings season has begun.
States hope to finalize standards for nonbank servicers despite strong opposition from industry participants. Details are still being ironed out, and implementation remains a concern.
The supply of single-family mortgage debt outstanding grew just 4.3% last year, but Freddie and Fannie saw a hefty 13.3% gain from the end of 2019. (Includes two data charts.)
It stands to reason that rising rates would fuel servicing valuations. Some brokers expect a strong second quarter in sales, with the third quarter even better.
At a Senate committee hearing this week, consumer advocates called for stronger enforcement, industry representatives picked on the CFPB and Republicans and Democrats pushed different priorities.
Plush with record earnings, loanDepot is building an inhouse servicing system, which means its current vendor, eventually, will lose business. Meanwhile, is GSE reform a possibility once again?