Delinquencies on securitized mortgages increased in all parts of the agency market during the third quarter. The increase was concentrated in early-stage delinquencies. (Includes data chart.)
As severe weather events batter major housing markets, borrowers are finding it difficult and expensive to obtain homeowners insurance, according to panelists at a Mortgage Bankers Association conference.
High interest rates push down rate lock activity in August; Guaranteed Rate touts five-minute approvals; startup aims to link homebuyers with assumable mortgages; foreclosures increase; MISMO updates offerings.
Banks and thrifts handled slightly less servicing for others as of the end of June. Still, a metric tracking the fair value of MSRs at banks increased during the second quarter. (Includes data chart.)
High interest rates are cutting into demand for mortgages; many consumers’ expectations for interest rates are wrong; ICE and Black Knight move close to merger; servicer using blockchain, lender guarantees underwriting results from AI; Flagstar’s mortgage tech accelerator; mortgage payoff fraud attempts increase.
Mr. Cooper’s servicing portfolio is expanding while the number of employees in the nonbank’s call center is declining. Investment in technology is helping to reduce costs and fuel servicing growth.
Chase didn't back into the top servicer ranking, it blew past Wells Fargo in the second quarter. But Mr. Cooper Group has its eyes on the $1 trillion mark. (Includes three data charts.)
A handful of mergers accounted for a significant share of the huge flow of agency MSR to new owners during the second quarter. Sales by nonbanks looking to prop up earnings were a major factor. (Includes three data charts.)
Delinquencies were largely up across the board in the agency MBS market in the second quarter. Only 120-plus-day delinquencies declined compared to the end of March. (Includes data chart.)
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