It's a tough origination market, that's for sure. But when times are tough, opportunities can present themselves. Is now a time to buy retail branches from shops that are struggling? If the price is right, yes.
Another bank is poised to depart as a Ginnie servicer, this time in the multifamily sector. Say goodbye to Midland States, which is off-loading $2.3 billion in Ginnie MF MSRs.
Thousands of mortgage workers have been handed pink slips this year as companies move to cut costs. But it appears many shops aren’t telling the states, as required by law. Is there a rational explanation?
United Wholesale Mortgage explored the idea of servicing its own mortgages but passed. For now it's sticking with its two subservicing vendors, one of which is Cenlar.
No secret here: Nonbank mortgage companies are living off their mortgage servicing rights during the industry’s sizable downturn. How much longer can it last? Hard to say, but Fitch has some concerns.