Commercial banks and savings institutions continued to pare down their portfolios of mortgages serviced for other investors during the first quarter, according to a call-report analysis by Inside Mortgage Trends. Banks and thrifts serviced a total of $4.56 trillion of home loans for other investors, most of which was associated with mortgage-backed securities. That was down 3.2 percent from the fourth quarter and marked the eighth consecutive ... [Includes one data chart]
Have you heard about “fair servicing” and “disparate maintenance?” Well, you’re going to. With servicing-related issues making up the lion’s share of consumer complaints about their mortgages, a new supervisory trend that has emerged in recent months is a move toward what could be called a “fair servicing” expectation, according to a pair of experts at the American Bankers Association’s 2014 regulatory compliance conference in New Orleans this week ...
Inventories and disposition times for commercial mortgage assets in special servicing as of year-end 2013 rose modestly compared to year-end 2012 as highly rated servicers moved real estate-owned inventories efficiently, according to a new Fitch Ratings analysis of the commercial mortgage-backed securities market. Analysts with Fitch’s CMBS Group found that REO assets as a percentage of specially serviced portfolios have grown for three of the largest ...
The “legacy” bulk market for MSRs has been spooked, to some degree, by regulatory scrutiny, though offerings of newly originated product have been plentiful.
Maybe more Millennials are buying homes than people think: "A large portion of our applicants are in the Millennial generation. I am seeing them in our office every day," said Jim Picard of Denali Alaskan Federal Credit Union.
Up until the housing crash of 2008, it was not uncommon for many warehouse lenders to extend lines of credit to buy MSRs or finance the holding of the asset.
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