There's the possibility for a borrower to be behind by one or two months on payments, and the servicer has missed FHA's deadline to start a foreclosure.

If subservicing is included in FHFA's market share cap, Rocket plans to shift some of the servicing mix at the combined Rocket/Mr. Cooper.

A slight rise in the unemployment rate in August helped to reinforce expectations that the Fed will cut the federal funds rate this month.

First Interstate Bank posted the largest loss in the second quarter, spilling $5.5 million of red ink.

As of the end of June, banks held $2.859 trillion in their servicing-for-others accounts, up 1.1% from the end of March.

The regulator, though, says no market participant can account for more than 20% of the GSEs' servicing market.

Earlier this month, MIAC came to market with a $987.0 million package of mortgage servicing rights backed by healthcare facilities.

The national delinquency rate improved for the second month in a row.

After analyzing Powell’s comments, Deutsche Bank forecasted a 25-bp reduction in September.

Jay Promisco, president at Sierra Pacific Mortgage, said agentic AI can be used to manage the entire loan process.