Rithm Capital eked out a $28.9 million profit on servicing in the first quarter, but that was down by more than $1 billion from the prior period.

Roughly $50 billion in product should find its way to new owners in the coming weeks.

The Federal Open Market Committee looks unlikely to cut the federal funds rate at its next meeting, in mid-June.

The CFPB indicated that it plans to rescind some provisions under the LO comp rule, along with changes to servicing standards.

The mortgage tech vendor has been operating with a “going concern” warning for more than a year.

The cap and other regulatory issues prompted numerous adjustments at Wells, including a retreat on mortgage lending and servicing.

The bill largely aligns with legislation approved in the House in May.

Some mortgage borrowers now face higher monthly payments for taxes and insurance than for the principal and interest obligations tied to a mortgage.

Delinquencies on FHA mortgages have crept higher since recovering from the pandemic.

“Fannie Mae and Freddie Mac acting more private but still being in conservatorship might be the best of both worlds,” said Mat Ishbia, president and CEO of United Wholesale Mortgage.