The frothy prices being offered for MSRs are beginning to cool somewhat. Theres definitely a tighter range on bids lately, said Matt Maurer, managing director of MountainView Servicing Group.
According to Alice Alvey of Indecomm Mortgage U, many shops are reassessing originator comp plans for January 2014 to adjust to the changing margins and seize the opportunity to blame it on the change in the law."
The REIT is just starting to purchase MSRs. At the end of September it had $15.7 million of mortgage servicing rights on its balance sheet, but that figure should rapidly change in the quarters ahead.
When it comes to auditing mortgage lenders, does the CFPB know what its doing? It all depends on who you talk to. Also, the FHFA cracks down on force placed insurance (again).
Early Thursday, EverBank disclosed that it is selling $13.4 billion of Ginnie Mae servicing rights, while transferring $6.9 billion in subservicing to Walter Investment Management Corp.
Moodys believes the servicers transitions into mortgage originations was positive, but raised concerns about declining refinance opportunities, competition with banks and the potential for nonprime originations.