In 4Q20, the nonbank mortgage giant originated $69.41 billion of product, a 28.1% improvement from a red hot third quarter. Its servicing portfolio grew by 6.2% in that span to $426.75 billion.
For the first time, MISMO is charging a 75-cent-per-loan fee for mortgages registered electronically. The fee will help fund MISMO’s activities, with an emphasis on digital mortgages.
Loan extensions on auto ABS increased for the third straight month in November amid rising coronavirus cases. Losses for investors could be around the corner, according to S&P Global Ratings.
One of the largest REIT investors in the MBS market took a loss of $266 million in 2020, with gains in the final three quarters unable to wipe out the red ink posted in the first quarter. Still, officials at AGNC are optimistic about the future.
The NCUA board in December voted 2-1 to allow federal credit unions to acquire MSRs from other FCUs. The lone dissenting vote came from Todd Harper, who was just appointed NCUA chairman.
Close to 25% of mortgages in forbearance plans will hit the end of their relief period in March, with more expirations in April and beyond. Problem: Many of the borrowers in forbearance are delinquent.
Capacity issues at due diligence firms and other third-party service providers are slowing originations and loan sales in the non-qualified mortgage market...