Ditech, in the coming days, expects to close on its previously announced asset sale to New Residential Investment Corp. The REIT is scheduled to purchase most of the nonbank’s servicing portfolio and what’s left of its origination platform.

Although origination volumes appear to be strong these days, some mortgage executives are already worrying about what might happen next year...

The Senate panel believes such a study is crucial before Ginnie develops a plan to fill gaps in hiring and retention.

Freddie Mac declined to say how much credit it had extended under the pilot, though a spokesman said it was under $1 billion. 

The new CFPB report covers findings from examinations completed between December 2018 and March 2019. 

Combined, Fannie Mae, Freddie Mac and Ginnie Mae accounted for 63.0% of total home mortgage debt outstanding at the end of June.

Back in 2011, large bank servicers – including Wells Fargo, JPMorgan and Bank of America – controlled roughly 94% of the mortgage servicing market, a fact cited in a new report from the Conference of State Bank Supervisors. Today, just four commercial banks rank among the top 10 servicers.

The CSBS report: “Thin liquidity margins, especially when coupled with the other risks identified above, can put a nonbank in a sudden compromised position triggered by a reduction in revenues or other market or economic events such as volatile interest rates that can have significant impact on the value of MSRs.”

Flagstar estimates it will recover about $1 million of the cost in the third quarter while it continues to pursue other legal remedies tied to Live Well...

The lifting of the sanctions comes amid a recent report by Bloomberg that New Day Chairman Emeritus Joe Murin might be a candidate to be the next permanent president of the government guarantor.