Flagstar sold $8.0 billion of residential servicing rights during the first quarter compared to $6.7 billion in the fourth quarter.

Nonbank mortgage firms increased their servicing portfolios by 3.0 percent during 1Q17, more than double the 1.3 percent increase in total Fannie/Freddie servicing during that period.

A Fannie spokesman stressed that this effort in no way represents the GSE getting into the student loan business…

JPMorgan Chase Chairman and CEO Jamie Dimon recently called for national mortgage servicing standards as one key reform that will significantly increase the availability of mortgage credit to qualified borrowers. “Mortgage servicing is a particularly complex business in which the cumulative impact of regulations has dramatically increased operational and compliance risk and costs,” costs which get passed on to borrowers, he said in his annual letter to shareholders. However, “The most promising opportunity in mortgage servicing is to adopt uniform national servicing standards across guarantors, federal and state regulators, and investors,” Dimon noted. And Congress doesn’t have to get involved to address this. “In particular, the U.S. Treasury is well-positioned to lead key players in the mortgage industry (the CFPB ...

Investors Unite: “We’re encouraged to see that MBA has changed its position on both of these issues and we also note that in their [sic] paper, MBA acknowledges the role of the Federal Housing Finance Agency … in stabilizing the companies during the conservatorship.”

Although most of the major non-agency segments posted solid increases, the scratch-and-dent market was the star of the show.

The pending issuance will largely be backed by purchase mortgages...

The Mortgage Bankers Association is sticking with its proposal to keep Fannie Mae and Freddie Mac alive, but with new charters, while inviting other players to compete with the two giants in the securitization of conventional mortgages. The trade group this week proposed a utility-like model for the re-christened government-sponsored enterprises. They would inherit the personnel and systems the GSEs now have, but become limited-purpose, publicly owned securitization businesses under tight government regulation. Other entities could apply...

“Maybe we end up in the exact same spot as the last generation, maybe we end up with Corker-Warner,” said Calabria.

Nonbank mortgage servicers – especially those that aren’t juggernauts in the mortgage lending business – were the fastest-growing segment of the GSE servicing market during the first quarter of 2017. A new Inside The GSEs analysis shows that nonbank servicers accounted for 33.3 percent of the $4.552 trillion supply of Fannie Mae and Freddie Mac servicing outstanding at the end of March. The analysis is based on single-family loans in GSE mortgage-backed securities and does not include whole loans held by Fannie and Freddie in portfolio. Nonbanks increased...[Includes two data tables]