"This change is necessary because VA is not set up or intended to be a mortgage loan restructuring service," said a VA spokesperson.

Multiple factors are weighing on the spread between the 10-year Treasury rate and interest rates on mortgages.

A district court issued a summary judgment in favor of Ginnie Mae in a lawsuit brought by Texas Capital Bank against the agency.

“UWM will be discontinuing our subservicing relationship with Mr. Cooper and they will no longer be [a mortgage servicing right] sale partner,” a UWM spokesperson said.

The turnaround in servicing profitability was driven by markups in the value of mortgage servicing rights net of hedging efforts.

After Rohit Chopra was forced out, the CFPB saw two new leaders in less than one week.

Rocket’s long-term issuer default rating could be downgraded due to elevated corporate leverage.

Last week rumors were circulating in the industry that a top-ranked nonbank was about to be sold, but the name being floated was not Mr. Cooper.

One servicing advisor said he has “deals in progress,” just not as many as this time last year.

Sachem's expenses spiked in 2024, including a $26.9 million provision for credit losses on loans held for investment.