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Home » Topics » IMFnews » Servicing

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Short Takes: Refis Peter Out / Sentiment on Housing Improving / Angel Oak as Non-QM Aggregator / Foreclosures Slow

December 10, 2024
Brandon Ivey
Locks for refis plummeted in November following a rise in interest rates.
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Minor Turbulence Hits Subservicing Market in 3Q

December 9, 2024
Paul Muolo
Among the top five subservicers, the steepest descent in year-over-year business was registered at Dovenmuehle.
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Employment Trends Support Rate Cut by Fed Mid-December

December 6, 2024
Brandon Ivey
While layoffs aren’t increasing, new entrants and individuals who lose jobs are having a more difficult time regaining employment.
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Interest Rates Weighing on Profitability of Large Nonbanks

December 6, 2024
Brandon Ivey
“Companies with stronger franchises and ample levels of capital continue to sacrifice some profitability to increase market share, keeping pressure on weaker competitors,” according to Moody’s Ratings.
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Short Takes: UWM Increases Size of Debt Offering / Neutral Outlook for Private MIs / Fitch Upgrades Freedom’s Servicer Rating / Buydowns Prevalent at Homebuilder / Blue Owl Capital Buying HEIs

December 6, 2024
Brandon Ivey
UWM's debt offering priced with an interest rate of 6.625%.
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Planet Home Preps $400 Million Debt Offering

December 5, 2024
Paul Muolo
If the $400 million unsecured debt offering is successful, might other nonbanks follow in its wake?
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Bank Servicing for Others Level in Third Quarter

December 5, 2024
Namrata Bhatia
Banks and thrifts serviced $3.023 trillion of mortgages for other investors as of the end of September.
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Short Takes: Trigger Leads Bill Stalls / Bank Sells Older MBS, Loans at Loss / Debt Offering From UWM / FHLBank of Indianapolis Increases Mortgage Subsidy

December 5, 2024
Brandon Ivey
A bill with bipartisan support to ban trigger leads tied to mortgage applications was removed from a defense spending package.
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Onity Pays Off Some Corporate Debt Following MSR-Related Sale

December 4, 2024
Brandon Ivey
Onity received $49.5 million for the sale.
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Recapture Projections Distorting Value of Mortgage Servicing Rights

December 4, 2024
Brandon Ivey
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.
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