Low interest rates are great for lenders but servicers are having a tough time of it, especially shops looking to unload product. One dealmaker is advising clients to sell MSRs now before they “vaporize.”
2019 was a banner year for warehouse mortgage providers, thanks to strong nonbank originations in the primary market. And now it appears that 2020 could be even better.
With non-QM lending accelerating along with MBS issuance, many warehouse managers are now happy to admit that their banker-window is open for business, always has been.
Ocwen is losing a big subservicing contract with REIT New Residential but isn't worried about the development because the contract was unprofitable in the fourth quarter...
This morning we asked a handful of loan officers and mortgage executives whether they’re seeing a noticeable uptick in refi applications. This from one official at Equity Prime Mortgage in Atlanta: “Yes. It’s absolutely insane now…”
Net income at Mr. Cooper was aided in a major way by a $285 million recovery tied to deferred tax assets. Meanwhile, on the origination front, the company funded $12.6 billion in product during 4Q19, up 5.8% from 3Q19.