The key to a modest increase in servicing-for-others in the banking industry was the purchase of a large nonbank by Western Alliance Bank. (Includes data chart.)

Rocket is offering residential solar financing and installation services while New Residential is set to launch an operating company focused on single-family rentals.

A Fannie survey finds that most recent homebuyers used no online tools to get their mortgage. The use of some digital channels actually declined during the pandemic.

Three New York mayors have filed lawsuits against Ocwen/PHH in an attempt to send a message to servicers to take care of “zombie properties.”

Offshoring certain functions involved with originations or servicing can generate cost savings of 25% and beyond. Still, there are risks involved with the practice.

Observers point to forecasts of continued growth in the demographic, especially among young Hispanics aging into household formation and first-time home purchases.

Only two of 21 banks reported increased income from mortgage banking during the second quarter, both due to improvement on the servicing side of the business. (Includes data chart.)

Income fell at four nonbanks in the second quarter, though performance was far from uniform. loanDepot’s profits dropped 94% compared with the previous quarter.

Servicing sales’ worst enemy: declining interest rates. Bulk transactions are weak while flow deals hold steady.

The number of borrowers whose forbearance plans will expire in the fall is greater than they might have been because maximum forbearance periods are varied based on when a borrower started a plan.