The Federal Reserve will slightly decrease the amount of its monthly purchases of agency mortgage-backed securities but agency MBS issuance might decline by even more than the Fed's planned taper.
FHA officials first asked for the servicing authority back in June, but the request has gone nowhere. Fannie Mae and Freddie Mac already have transfer authority.
It may sound complicated, but it appears that Nationstar is selling a portion of its MSR fee on certain rights so it can deleverage and buy even more servicing.
The rating service this week placed the primary servicer rating of EverBank Mortgage on watch for a potential downgrade due to changes to the servicers platform.
The drop in warehouse commitments mirrored, somewhat, the fall-off in residential originations, which declined almost 19 percent in the third quarter, according to figures compiled by Inside Mortgage Finance.