For the most part, subservicing growth has been slow, thanks to booming MSR sales and some non-traditional servicing owners shifting strategies. Cenlar, though, remains the nation’s number one subservicer. (Includes data chart.)
Thanks to the spike in MSR sales this year, reviews of the underlying collateral are backing up, causing delays in portfolios being transferred to new owners. Implications?
The mortgage IPO market is in tatters these days, given higher interest rates and rapidly shrinking profits and originations. So why does fintech Better.com think it can pull off a deal?
It’s not every day that a mortgage company files for bankruptcy protection, especially one owned by PIMCO. As for the future of that mortgage company, FGMC, a sale of its licenses is expected. After that, it’s game over.
With origination profits remaining depressed, most mortgage shops are tapping MSRs to bolster their quarterly results. As that old saying goes, “If you got ‘em, smoke ‘em.”