Nonbank mortgage servicers continued to grow their portfolios during the fourth quarter of 2013, as market stalwarts pulled aside and gave them room to accelerate, according to a new market analysis and ranking by Inside Mortgage Finance. Nine nonbank companies ranked in the top 30 mortgage servicers as of the end of last year, and they held an estimated $1.69 trillion in mortgage servicing. Several of the top nonbank lenders have not yet reported fourth-quarter earnings, and the group’s total servicing could be higher as more data come to light. Moreover, most of the nonbanks have pipelines of pending bulk and flow acquisitions, meaning they will continue...[Includes one data chart]
Despite the findings of the Inspector General's office regarding appraisal reviews, the GSEs’ recent books of business are considered to be of pristine quality.
Mortgage executives are praying that even though eminent domain plans have been talked about and brought to a vote in a handful of cities, that it never gets used.
Treasury’s “Third Amendment” to the PSPA – which replaced the quarterly GSE dividend payment with a “net worth sweep” of all company profits – was the culmination of a calculated administration effort, according to former Solicitor General Ted Olson.
According to company correspondence provided to Inside Mortgage Finance, Green Tree's target date for exiting the wholesale/broker channel is mid-April.
Morgan Stanley notes: “The agreement in principle is subject to final approvals by the parties. In connection with the settlement, the company will record an addition to legal reserves of $150 million, which will have the impact of reducing income..."
The starting salary for the CEO is said to be about $450,000 plus benefits, which is roughly double what the new director of the Federal Housing Finance Agency, Mel Watt, earns.
RSS