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Home » Topics » IMFnews » Servicing

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PrimeLending Takes Loss in 3Q, Originations Decline

October 25, 2024
Brandon Ivey
PrimeLending took an $8.7 million loss in the third quarter, with originations declining compared with the second quarter and a reduction in margins.
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FHA Issues Draft Mortgagee Letters on Foreclosures, Underwriters

October 25, 2024
Monica Hogan
One addresses foreclosures in states with a nonjudicial foreclosure process and the other would modify requirements for direct endorsement underwriters.
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Servicing Issues Increase in Mortgage Complaints to CFPB

October 24, 2024
Shannon Clark
Mortgage-related complaints submitted to the CFPB were up 2.7% from the second quarter, driven by servicing issues.
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Annaly Returns to Profitability in Third Quarter

October 24, 2024
Brandon Ivey
Annaly says it increased its holdings of agency MBS with higher coupons during the third quarter.
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Short Takes: Mr. Cooper Growing and Shrinking / State Regulators Urge Mortgage Industry to Log In / Home Sales ‘Stuck’ / Expanded-Credit MBS From A&D

October 24, 2024
Brandon Ivey
Mr. Cooper group has reduced its servicing staff and is adding to its originations unit.
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Strong 3Q Originations From PFSI... But MSRs Values Nicked

October 23, 2024
Paul Muolo
PennyMac funded $31.7 billion of residential loans during the July-September corridor, a handsome 17% improvement...
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Short Takes: FHFA Proposes Changes to FHLBanks Board Structure / Justice Department Sues Rocket / Redwood Preps Jumbo ARM Securitization / LoanCare Launches New Refi Recapture Program

October 22, 2024
James Dohnert and Dennis Hollier
FHFA plans for board structure changes; Justice Department sues Rocket over refi discrimination; Redwood markets jumbo ARM securitization; LoanCare launches digital recapture product.
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Servicing Transfers (Sales) Continued to Slow in 3Q24

October 21, 2024
John Bancroft
One busy seller of mortgage servicing rights was CMG Mortgage of San Ramon, CA...
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There Goes the Mini Refi Boom?

October 21, 2024
Paul Muolo
Sales of MSRs have been slow, but some owners of MSRs could decide to unload a portion of their holdings...
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Western Alliance Boosts Originations in 3Q, Revenue Down

October 18, 2024
Brandon Ivey
While production increased, mortgage-banking revenue at Western Alliance declined by 31.0%.
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