Lakeview Loan Servicing dominated both the bulk and coissuance MSR transfer markets, accounting for nearly a third of first-quarter activity. (Includes three data charts.)
Total delinquencies declined in the first quarter led by the drop in early-stage defaults. However, the delinquency rate on loans 30-59 days past due still accounted for more than half of the total default rate. (Includes data chart.)
Failed banks and interest rate risk; DOJ-Sterling Bank settlement; big banks boost First Republic; ICE to fight FTC over Black Knight deal; FHFA delays DTI fee; Guaranteed Rate offering fast approvals.
Servicing portfolios are available for purchase, including both government and conventional product. However, the market is waiting on news whether Home Point will continue to unload more of its holdings.
Mortgage companies waiting for the market to improve; some high marks on MSRs; Ishbia ready to dedicate more time to UWM; Equifax offers expanded credit reports; House approves bill to set minimum federal standards for remote online notarization; Better launches mortgage product for Amazon employees.
Commercial banks and savings institutions increased the amount of mortgage servicing they handle for other entities in the fourth quarter of 2022, although valuations for the asset declined. (Includes data chart.)
NYCB closes Flagstar’s non-bank branches; FHA offers new incentives for servicers; home prices decline again in November; MBA writes to FHFA on the cost of doing business with the GSEs; new products aimed at newly-constructed homes; MISMO offers loan limit tool.
More than $1 trillion of agency servicing rights changed hands in 2022. While bulk MSR transfers soared last year, the coissuance market was hammered by the sharp decline in agency business. (Includes three data charts.)
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