The nation’s subservicers increased their base of contracts to $1.615 trillion in the second quarter, a modest 1.6 percent gain from the prior period, but a handsome 17.0 percent improvement from the same period a year earlier, according to survey figures compiled by Inside Mortgage Finance. Overall, these third-party processing vendors – who split the monthly fee with the actual owner of the servicing strip – control 15.9 percent of all residential mortgage debt in the nation. A year ago the reading was 14.0 percent. And it’s...[Includes one data table]

Rushmore Loan Management Services, Irvine, CA – a subservicing specialist – plans to enter the origination market early next month, a rarity for firms whose forte is processing loans for others. Company CEO Terry Smith told Inside Mortgage Finance that the nonbank’s direct-to-consumer arm is scheduled to begin funding loans on Sept. 1. “Our focus will be on originating loans – and servicing those loans,” Smith said. He also noted...

In recent years, Redwood has favored whole loan sales to jumbo MBS due to pricing considerations, but the company has continued to issue jumbo MBS.

In total, there are 573 loans backing the Deephaven MBS…

One source said that in the Angel Oak transaction, bidding started with eight investors…

Investors are more willing to buy non-QM loans as long as they are Alt A in nature, industry sources told Inside the CFPB…

Of course, it’s debatable how many LO jobs might disappear through automation...

Most of its production is tied to homes in the Golden State but CALCAP hopes to go national one day.

Angel Oak’s first nonprime MBS came to market in December of last year and was backed by collateral with an average interest rate of 7.51 percent.

Will the last megabank left in the FHA market please turn off the light...