Servicing income rose 1.5 percent during the third quarter, although five of the 12 companies reported declines and one of them – PHH Mortgage – posted a loss.
The FHFA said it’s working with Fannie and Freddie to “develop processes to identify and align those enterprise programs, policies, and practices that could materially affect prepayments.”
Officials at HomeStreet Bank defended the bank’s mortgage business activities this week after facing criticism from one of the largest shareholders in the company.
Mortgage bankers saw modest gains on both sides of their business during the third quarter of 2017, according to an Inside Mortgage Trends analysis of earnings reports from a dozen publicly held companies.
Fannie Mae and Freddie Mac say they have made significant strides over the past year to address obstacles to the transition to a fully digital mortgage process that have been identified by mortgage lenders and other industry participants.