When was the last time the market saw a publicly traded wholesale-only lender?

Once again, the NFIP is on the brink. Will Congress ever get its act together? 

One last observation: Over the past month we’ve talked to no one who believes 2021 will be a train wreck. Several expect it to be a strong year, just but not as good as 2020…

For weeks, there had been unconfirmed rumors that UWM might be contemplating an IPO but the missing ingredient was the SPAC. Based in Pontiac, MI, the privately held UWM, ranks third among all originators, according to figures compiled by Inside Mortgage Finance.

The acquisition includes Cohen’s servicing and asset management clients and roughly 120 employees.

At June 30, subservicers handled 26.5% of all outstanding first liens in the U.S., a slight decline compared to March 31 of this year. 

According to Inside Mortgage Finance, consumers owe $11.29 trillion on their first-liens, which means $782.1 billion worth of loans are potentially at risk.

Fannie and Freddie said borrowers can qualify for a reduction or suspension of mortgage payments for up to 12 months. During this time, homeowners will not incur late fees and foreclosure will be suspended.

The nation’s 16^th largest servicer also disclosed it will restore incentive pay that was voluntarily given up by CEO Glen Messina.