Thanks to rapidly improving delinquency rates and real estate values, the bloom appears to be off the rose for specialty servicers that built their business on processing delinquent and high-touch mortgages that are guaranteed by Fannie Mae, Freddie Mac and the FHA. Over the past month, layoffs have plagued both Wingspan Portfolio Services, Dallas, and Residential Credit Solutions of Fort Worth, TX. Moreover, industry officials who work in the servicing sector believe...

Specialty servicer Wingspan is expected to issue a press release this week, providing some clarity about a change of control at the company and the future of its founder...

Along with the news of a larger repo facility, some executive changes have occurred as well.

The Community Home Lenders Association has asked new HUD secretary Julian Castro for a “meaningful reduction” in the FHA’s annual premiums…

Ocwen faces a dilemma. It has a gargantuan MSR portfolio but meager loan production. At some point, something has to give…

A source close to Horne confirmed the news and said he would be serving as an “executive advisor” to Wingspan, at least over the short term. But this source warned that the situation was "fluid."

One GSE source close to the CSP project noted that Yanoti was one of the platform’s “leaders,” but cautioned that “there are others as well.”

Another refi boomlet? One Long Island-based mortgage executive told us this: “Locks doubled from the day before and are up 30 percent over the previous 10 days”…

Ethos Lending, a QM and non-QM lender, is marketing itself to third-party loan officers as the “broker advocate."

Are Fannie Mae and Freddie Mac executives just wage slaves? And is there something wrong with that?