Investments in technology are helping Mr. Cooper reduce its servicing costs and allowing the industry’s largest servicer to place competitive bids on servicing portfolios.

Fannie Mae found that most mortgage lenders think it would be valuable to simplify and standardize closing cost line-item descriptions.

A new study from J.D. Power showed that mortgage servicers could better meet customer demands by implementing online chat and AI technologies into their workflows.

Lenders, servicers and tech vendors are touting their latest products that include AI; many borrowers don’t appear to be ready to embrace AI in the mortgage process; and a handful of non-AI announcements.

Bulk sales of agency mortgage servicing rights shifted to prepayment-protected coupons of 4% or less, while transfers of refinance-rich MSR slowed. (Includes three data tables.)

Loan performance slightly deteriorated in agency mortgage-backed securities during the third quarter, with delinquencies increasing across all late-payment categories. (Includes data table.)

Lower interest rates bring refi opportunities; borrowers experience frustration at closing; improvements at Provident Funding Associates; Spanish translation efforts; tech firm acquires mortgage brokerage.

JPMorgan Chase remained the largest bank in terms of servicing for others and increased its volume in the second quarter, a feat managed by only one other bank in the top 10. (Includes data table.)

Mr. Cooper was the top buyer of bulk agency MSR packages, with a huge chunk of it coming from United Wholesale Mortgage. Coissuance activity also increased. (Includes three data tables.)

Loan performance deteriorated across most late-payment categories in the agency mortgage-backed securities market in the second quarter. However, delinquency rates remained lower than six months ago. (Includes data table.)