To this point, the deals have been more frequent in Europe than in the U.S.

The GSEs are looking to ensure servicers have policies and procedures in place that require borrowers continuously maintain property insurance.

Julie McCurley, director of servicing at Mortgage Quality Management & Research, noted that subservicers typically review 10% of their entire portfolio, which consists of loans from multiple clients, providing a low probability for one client’s loans to be reviewed in a subservicer’s audit cycle.

The MBA cautioned that a ruling by the Fourth Circuit against PHH Mortgage departed from standard practices and could have wide-ranging harmful impacts for lenders.

JPMorgan Chase had the largest jumbo servicing portfolio, with $327.9 billion in volume at the end of December.

Rocket Companies reported a net income loss of $232.6 million in the fourth quarter of 2023.

KBRA said home-improvement ABS are performing better than securitized unsecured consumer loans with similar borrower credit characteristics, but worse than securitized prime auto loans.

The San Francisco FHLBank says the move will allow it to expand the pool of creditworthy applicants.

Fannie's new operations head comes from Morgan Stanley...

The increase was driven by higher scores on purchase mortgages.