Banks and thrifts serviced $3.023 trillion of mortgages for other investors as of the end of September.

A bill with bipartisan support to ban trigger leads tied to mortgage applications was removed from a defense spending package.

Onity received $49.5 million for the sale.

Some nonbanks are placing exceptionally high bids for MSR, counting on being able to recapture a high number of borrowers with refinances when interest rates decline.

Fitch assigned a B rating to the planned $400 million senior unsecured debt issuance from Planet Financial Group.

Fitch is hopeful about gain-on-sale margins going into 2025.

The good news: All the firms reported positive income from production, although a few earned less than they had in 2Q24.

Investments in customer service can help both borrowers and servicers, according to industry participants. Servicers are using AI and other tech to help borrowers and potentially generate recapture business.

FHA is making adjustments based on lessons learned from temporary policies established during the pandemic.

“This program will facilitate much-needed liquidity for issuers while improving the stability of the government-backed reverse mortgage market,” said Sam Valverde, Ginnie’s acting president.