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Short Takes: For the Good Times… / Legs to It? / MBA’s Profitability Reading: $4,548 Per Loan / Expenses Actually Decline / Losses Remain on the Servicing Side of the Aisle / New Hires at a GSE-Owned Company

September 2, 2020
Paul Muolo

Lenders are minting money these days, servicers not so much...


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Mr. Cooper on Track to Add 5,000 Employees This Year

September 2, 2020
Brandon Ivey

Mr. Cooper plans to increase its staff by more than 50% this year, with many of the hires focused on mortgage originations.


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Depositories Rake in the Mortgage Profits. Then There’s Wells Fargo...

September 1, 2020
John Bancroft

Commercial banks and thrifts posted a whopping $5.62 billion in net income from their mortgage banking operations during the second quarter.


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Forbearance Reading Remains Flat but Growing Problems in Ginnie, PLS Buckets

August 31, 2020
Paul Muolo

Black Knight said 3.9 million homeowners remain in forbearance...


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A California Version of the CFPB Gains Focus

August 31, 2020
Yemeng Yang

A California version of the CFPB? The Golden State boasts the largest mortgage market in the nation...


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GSE Loan Buybacks Actually Fell in 2Q20. However…

August 31, 2020
John Bancroft

Higher delinquencies should lead to more Fannie/Freddie loan buybacks, but we're not there yet, thanks, in part, to forbearance...


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FHFA, HUD Extend Foreclosure Moratorium to Yearend

August 28, 2020
Dennis Hollier

In the case of the GSEs, multifamily loans are not covered by the extension...


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Non-Agency Forbearance: What If You’re the Subservicer?

August 28, 2020
Maria Volkova

Gordon Albrecht of FCI Lender Services, the nation’s largest hard-money subservicer: "We [have been] getting a ton of requests for forbearance, but we’re a subservicer, so we have no authority to do any type of forbearance without the lender’s direction and permission.”


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Incenter Unveils Private Investor MSR Auction

August 27, 2020
Paul Muolo

Roughly 68% of the collateral is located in California. The seller would like to strike a sale agreement by the end of September.


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Short Takes: Another Down Week for Applications / Don’t Worry / Stellar Profits Remain / Blame the Document Custodian / Homes and Hurricane Damage, An Update

August 26, 2020
Paul Muolo and Maria Volkova

New residential applications fell once again. Time to worry? Hardly...


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