So far, the third quarter has seen several publicly traded commercial banks mark up the asset value of their residential mortgage servicing rights, but in general, the increases have been mild, to say the least. The only bank that reported a sizeable increase was Bank of America, which valued its MSR portfolio at 60 basis points at Sept. 30, an increase of 9 bps from mid-year. Of the reporting banks, BofA’s improvement has been the largest by far. BofA’s megabank competitor ...

Borrower retention – convincing a borrower to take a mortgage with their existing lender when the time comes for a new mortgage – can increase the value of servicing a new mortgage by 1.5 times to 3.0 times, according to calculations by Strategic Mortgage Finance Group. Matt Lind, a senior partner at Stratmor, came to that conclusion when considering the value of customer retention beyond trying to glean insight from the market price of servicing used in correspondent ...

The first-time homebuyer share of home purchases has declined significantly in recent months, according to the Campbell/Inside Mortgage Finance HousingPulse Tracking Survey. First-time homebuyers had a 34.8 percent share of purchases in September, based on a three-month moving average. That was the lowest share for first-time homebuyers since August 2014. The first-timer share has declined for four consecutive months, from 40.4 percent in May. Both current homeowners ...

Some leading mortgage technology vendors told the Consumer Financial Protection Bureau they are concerned about the resources that will be required to implement the changes the bureau wants to make to its integrated disclosure rule known as TRID. In a comment letter to the CFPB regarding its proposed rule to clarify a number of aspects of the TRID regulation, the Mortgage Vendor Regulatory Work Group raised concerns about software implementation resources, including ...

Nonbanks crossed a key threshold during 3Q16: Among the top 50 lenders, nonbanks accounted for 51.4 percent of 3Q originations – the first time these lenders grabbed more than half of the market…

“The opportunity for this group to qualify for mortgage loans is growing,” said Experian.

Ocwen funded $1.2 billion in “forward” mortgages and an additional $213 million of reverse loans. In 2Q16 it funded $1.32 billion.

This past summer, Arch agreed to buy United Guaranty, the market leader in the MI space.

Ocwen had an average of 7,484 employees in the third quarter of 2016, down 12.3 percent from 3Q15...

The Internal Revenue Service has decided to hold off on making changes to its Secure Access Program, which governs the process by which federal tax transcripts are provided to the mortgage industry, after industry trade groups objected. The changes, part of an effort by the agency to better protect taxpayer data as well as IRS systems from attacks by cybercriminals, had been scheduled to kick in at the start of this week. “To ensure a smooth transition, the IRS has decided...