Short Takes: Government Servicing Effort at MISMO / Housing Activity Slows / How Do Escrows Work? / Ratings for RTL Securitization / Publishing Break February 16, 2024 Brandon Ivey FHA, VA, Ginnie Mae and USDA are working with MISMO on a new servicing dataset.Read More
Bank Income From Mortgage Operations Down in 4Q February 15, 2024 John Bancroft Among 27 publicly owned banks, 20 saw income fall in the fourth quarter, and five recorded losses for the period.Read More
Congress Ponders Risks From AI in Housing Market February 15, 2024 Monica Hogan Congress must examine AI carefully, to determine “whether AI is extending and reinforcing biases, and how it has the potential to correct them,” according to Sen. Tina Smith, D-MN.Read More
Short Takes: Applications Down Somewhat / Foreclosures Increase / Fitch Affirms Servicer Ratings at PHH / New CEO at Sagent February 14, 2024 Brandon Ivey Demand for both purchase mortgages and refinances declined as interest rates ticked up.Read More
Short Takes: NewRez Stands Out Among Servicers / CES Securitizations / MBA Warns on Rent Control / Multifamily Property Insurance Symposium February 13, 2024 Brandon Ivey NewRez received a "star" rating from Fannie Mae for general servicing, solution delivery and timeline management.Read More
Marlin Ready to Branch Out Into Ginnie Servicing February 12, 2024 Paul Muolo At yearend, Marlin owned roughly $43.87 billion in Fannie/Freddie MSRs...Read More
Cardinal, Others Test the MSR Sale Waters February 12, 2024 Paul Muolo Increasing prepayment speeds shouldn’t mar the servicing asset in the current quarter...Read More
Income Drops at Mr. Cooper in Fourth Quarter February 9, 2024 Brandon Ivey The nonbank is set to have a $1.1 trillion portfolio as of the end of March.Read More
Short Takes: Waters Pushes Affordable Housing / Fannie Selling NPLs / Home-Improvement Loan Securitization / CFPB Settles Foreclosure Relief Scam February 9, 2024 Brandon Ivey Rep. Maxine Waters, D-CA, reintroduced a package of bills aimed at affordable housing.Read More
An MSR-Related Loss for Rithm, GOS Falls to Low for the Year February 7, 2024 Paul Muolo Rithm is in the process of buying Specialized Loan Servicing. The sale should close by March 31.Read More