Most of the major bulk buyers of agency servicing rights moved to the side-lines in the second quarter of 2020, and more mid-sized lenders opted to hold MSR rather than sell through coissuance arrangements. (Includes three data charts.)
The Mortgage Industry Standards Maintenance Organization said it is developing standards to facilitate more efficient servicing transfers. The organization is asking industry participants to join its working group.
Given the recent surge in new COVID-19 infections, now may be a good time to reassess location-based licensing requirements as well as state oversight, the trade group believes.
Bill Foley, the man who made Fidelity Financial into a title insurance giant, has his eyes on mortgage analytics vendor CoreLogic. But will antitrust concerns prevail?
Most of the industry's dramatic $245 billion decline in servicing for others was the result of a change in reporting practices at Flagstar Bank. However, a number of large banks continued to back away from the business of servicing for others. (Includes data chart.)
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