At the end of the year, banks and thrifts serviced $5.323 trillion of home mortgages for other investors, giving these MSRs an asset value of $41.43 billion.
Walter Investment Management lost money in the fourth quarter and for the full year but that's because it's been gobbling up billions of dollars in mortgage servicing rights.
The Senate Banking Committee, as expected, approved the nomination of Richard Cordray to head the CFPB, but Republicans are not happy about the structure of the young agency.
On Tuesday the Senate Banking Committee will hold a vote on the nomination of Richard Cordray to head the CFPB. Does this mean the GOP is warming up to him or is something else afoot?
Improving loan quality is sparking a major shake-out in the due diligence sector. Can jumbo production and MBS save the day? Meanwhile, the supply of MBS expanded slightly in the fourth quarter.
Most mortgage banking firms – both bank and nonbanks alike – have been posting record profits over the past year, creating the pleasant problem of what to do with all that cash. According to interviews conducted by Inside Mortgage Finance over the past few weeks, certain nonbank owners have been taking cash out of their companies, using the money to pay hefty tax bills. Others have been leaving money in the company and searching for ways to shelter income. One way to do that, according to some tax experts, is to retain originated servicing rights. This is...
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