Browse articles from IMFnews related to Servicing.

July 16, 2018 - IMFnews

A 23 Percent Increase in Home Lending for Bank of America

Bank of America no longer breaks out mortgage income separately.

July 12, 2018 - IMFnews

Short Takes: FHA in a Hiring Mode / CAIVRS, Old as Dirt? / Likening the GSEs to ‘The Blob’ And His Son / Level One Ponies up to the Mortgage Bar / MSR Auction from The Prestwick Group

One slide in the GSE presentation is entitled, “The Blob and the Return of the Blob,” a reference to the horror movie classics of the late 1950s…

July 12, 2018 - IMFnews

Financial Services Industry Wants ‘Binding’ Guidance from the CFPB

The American Bankers Association argues the CFPB should acknowledge the bureau is bound by the guidance it issues…

July 12, 2018 - IMFnews

NRL Mortgage Increasing Staff, Will Expand Into New Markets

A retail lender, the Houston-based NRL has increased staff at a branch in Cincinnati by 25 percent this year…

July 12, 2018 - IMFnews

Supreme Court Takes Case on Non-Judicial Foreclosures

Some courts have determined that because non-judicial foreclosures don’t technically obligate borrowers “to pay money,” protections from the FDCPA aren’t available.

July 10, 2018 - IMFnews

Short Takes: Fannie Launches MI Pilot / MBA Reg Counsel Joins Consulting Firm / Non Bank Market Share Grows / FHFA Capital Rule Criticized

Fannie said the new lender option allows the GSE to streamline the operational requirements of participating lenders...

July 10, 2018 - IMFnews

Former Hensarling Aide Johnson Gets Acting Deputy Director Slot at the CFPB

Johnson joined the bureau late last year from the House Financial Services Committee where he held the title of senior counsel.

July 10, 2018 - IMFnews

Ditech’s Future: An ‘Asset’ or a ‘Stock’ Sale? Opinions Differ

Of course, Ditech has a bit of back story…

July 10, 2018 - IMFnews

On the Decline: Mortgage and Student Loan Complaints

Gripes against Experian came in at 14,914 over the six-month period…

July 9, 2018 - IMFnews

Short Takes: Those Ginnie Warnings on VA IRRRLs Apparently Worked / The Trump GSE Plan, Going Nowhere? / NJ Lender Launches Call Center in SC / Churchill in a Hiring Mode / Walker & Dunlop Hires Capital Markets Executive

Although loan production is down this year, that isn’t stopping some lenders from moving forward with expansion plans.

July 9, 2018 - IMFnews

Phoenix Capital Selling Fannie/Ginnie Servicing Package

A few weeks back, Phoenix Capital was in the market with a flow MSR offering that carried a maximum size of $540 million…

July 9, 2018 - IMFnews

CFPB Deputy Director English Announces Resignation. Her Legal Challenge Ends

Last fall, English was named the CFPB’s deputy director by departing Director Richard Cordray...

July 6, 2018 - IMFnews

Short Takes: Making Sense of the BLS Mortgage Employment Numbers / Fewer Construction Workers Means… / Budget Scoring and the GSEs. Meaning? / Hey, Maybe Amazon Should buy Impac (CashCall)

So, what’s the big deal? Under FCRA, Fannie and Freddie would add $23.5 billion in revenue to Uncle Sam’s coffers for 2019...

July 6, 2018 - IMFnews

Fannie Mae Servicer Seterus the Foreclosure King of California?

Seterus is owned by IBM, but the vendor doesn’t even mention the ownership link to ‘Big Blue’ in the “About Us” section of its website…

July 6, 2018 - IMFnews

LenderLive Pondering a Sale? Or Something Else?

In July 2017, the vendor named Rob Clements chairman and CEO and John Surface president and chief operating officer. Both came over from EverBank Financial…

July 5, 2018 - IMFnews

Amid Talk of Industry Layoffs, United Wholesale is Hiring

According to figures compiled by Inside Mortgage Finance, UWM ranks ninth overall among all lenders, and is poised to move up in the rankings...

July 3, 2018 - IMFnews

Short Takes: An MSR-Only Sale for Ditech? / Layoffs at The Money Source / Fannie and Freddie Trim Subprime Holdings / A Capital Raise for Redwood / New Rez Closes on Shellpoint Deal

TMS called it a “realignment,” explaining the cuts are part of a plan to “fuel fintech growth.”

July 3, 2018 - IMFnews

HomeStreet to Sell 20 Percent of its MSR Portfolio to Matrix Financial Services

HomeStreet continues to deemphasize its role in residential mortgages…

July 3, 2018 - IMFnews

Banks Boost First-Lien Holdings in 1Q18 but a Slight Drop at Wells Fargo

The three largest holders of first-liens are Wells Fargo, JPMorgan Chase and Bank of America…

July 2, 2018 - IMFnews

Short Takes: Lending Tree Comes Back Down to Earth / If Mortgage Rates Hit 5 Percent… / WMIH and Nationstar Shareholders Approve / NJ Mortgage CEO and Founder Resigns / Executive Bolts Stewart for WFG

LendingTree founder and CEO Douglas Lebda took home total compensation of $59.6 million last year...

July 2, 2018 - IMFnews

I’ve Just Seen the Future of Mortgage Banking and its Name is Amazon

Two years ago, loanDepot scuttled a much talked about initial public offering of stock...

July 2, 2018 - IMFnews

A Deal-Hungry Stearns to Acquire an Equity Stake in Certainty Home Loans

According to sources familiar with the matter, Stearns is looking at other acquisitions as well...

June 29, 2018 - IMFnews

Another Job for CFPB’s Mulvaney? Kraninger’s Confirmation Hearing Set for July 19

“It’ll be more chaos if the president has to appoint another acting director," said one former CFPB official.

June 28, 2018 - IMFnews

Short Takes: Ralph Nader Has Some Unkind (And That’s Putting it Nicely) Words for CFPB’s Mulvaney / Mulvaney Viewed Favorably Elsewhere / Nader and the GSEs (Remember that One?) / More M&A for Union Home / A New Hire for Mello

A few years back, Nader went to bat for Fannie Mae/Freddie Mac shareholders suing the federal government over the GSE net worth profit sweep...

June 28, 2018 - IMFnews

Ditech is on the Auction Block. But Who Will Buy It?

Nationstar might be a suitor...

June 27, 2018 - IMFnews

It’s Official: Ditech is on the Auction Block, Hires Houlihan Lokey

The nation’s 12th largest servicer of residential loans said other options include a “business combination” or maintaining its status as a standalone entity.

June 27, 2018 - IMFnews

Short Takes: HUD Chief Carson Gives a Target Date for FHA Condo Rule / Different Agencies, Different Criteria / No Changes in Ratings on Fannie and Freddie / Angel Oak Promotes Jumbo Loan / FHFA IG Official Steps Down

FHA may soon have a new condo lending rule, but one lobbyist called it "four years too late..."

June 26, 2018 - IMFnews

Short Takes: Amazon Moves Ahead with Banking Plans / A Martini for Ditech / Cooperman and Ocwen / More Cost Cutting at Ocwen / Britti Gets a New Title / U.S. Bank Hires Wells Fargo Official

Leon Cooperman has been increasing his stake in Ocwen Financial and now owns about 11 percent of the firm…

June 26, 2018 - IMFnews

Servicing Advisors Worry About the GSE Role in the ‘Flow’ MSR Market

Incenter Mortgage Advisors, Denver, is getting ready to launch a flow MSR marketplace of its own…

June 25, 2018 - IMFnews

Short Takes: A Shift on GSE Thinking? / loanDepot Resumes / Job Cuts at Finance of America / Product Update from Arch / A New Mortgage Hire for BBVA

In early June, Finance of America filed a layoff notice on 43 workers in Roseville, CA.

June 25, 2018 - IMFnews

Phoenix Capital Selling $1.2B of GSE MSRs

The seller of the bulk package is a depository that lends heavily in the South…

June 22, 2018 - IMFnews

What We’re Hearing: Mick Mulvaney, Conservative? / A GSE Starting Point? / Mortgage and Big Tech. Can it Work? / Amazon v. Quicken – is Dan Gilbert Ready? / Movement Mortgage? / LenderLive Hires an Advisor / New Hires for Ditech

One former loanDepot official had this to say about the rumor: “It makes sense. loanDepot has plenty of loan officers handling inbound leads. Amazon could create a ton more and compete with Quicken….”

June 22, 2018 - IMFnews

New York Judge Rules CFPB’s Structure Unconstitutional

The new ruling raises the likelihood that the Supreme Court might take up the issue in the future.

June 21, 2018 - IMFnews

Surprise: White House Publishes Ideas for Ending the GSE Conservatorships

The Trump blueprint would remove the federal charter from statute and fully privatize the government-sponsored enterprises.

June 21, 2018 - IMFnews

loanDepot Employees Discuss the Amazon Rumor. But is it True? CEO Calls it a ‘Good One’

If the deal comes off, loanDepot employees will receive free Amazon Prime accounts…

June 21, 2018 - IMFnews

And the MSR Deals Keep Coming. IMA Selling a $10B-Plus Bulk Package

At $10.3 billion, the package is believed to be one of the largest in the auction market right now.

June 21, 2018 - IMFnews

The Bank Retreat from the MSR Market Begins to Slow

Also, credit unions and thrifts both increased their MSR holdings...

June 21, 2018 - IMFnews

Conservatives Rallying Against the CFPB Nominee?

Law professor J.W. Verret on Kathy Kraninger: “She doesn’t have experience with financial markets…”

June 20, 2018 - IMFnews

Short Takes: Wholesale Profit Margins Under Pressure Too? / Commercial Bank Seeks MB / A New IO MBS from JPM / An Update on Ex-FGMC CEO Peters / New Hires for Two Harbors, Walker & Dunlop

All of the loans in the new JPM deal were originated by First Republic Bank, with seasoning of seven years...

June 20, 2018 - IMFnews

Incenter and MIAC Out With Bulk MSR Auctions

The delinquencies on the MIAC package total 5.3 percent…

June 20, 2018 - IMFnews

Tight Profit Margins and Lower Originations Fuel Speculation on Company Closures

“I think we’re going to see a bunch more failures,” said Dan Perl, CEO and founder of non-QM lender Citadel Servicing…

June 20, 2018 - IMFnews

On the Ascent: Jumbo Servicing Balances

One of the fastest growing jumbo servicers is Shellpoint Mortgage…

June 19, 2018 - IMFnews

NMIC: Outlook for Housing Market No Longer Positive

It’s the first time since 2010 that the insurance firm has not forecast a positive outlook...

June 19, 2018 - IMFnews

Short Takes: Sen. Warren Will Block CFPB Nominee / Midwestern Humility / Yet More Regulations Proposed for Home Servicers / If Maxine Waters Becomes Chairman… / The GSEs, More Dominant Than Ever?

Sen. Elizabeth Warren: "Now Donald Trump wants her to run the CFPB. I will put a hold on her nomination – and fight it at every step – until she turns over all documents..."

June 19, 2018 - IMFnews

Nine Groups Want Fannie and Freddie to Have a Regulatory-Mandated Capital Restoration Plan

Consultant Joshua Rosner of Graham-Fisher said the letter is significant because it marks the first time that the ICBA has joined with civil rights groups and housing organizations on a GSE-related matter.

June 18, 2018 - IMFnews

Should the FHFA Set Operational Standards for Mortgage Servicers? Rep. Waters Readies Bill

Mortgage servicers believe they already face intense regulatory scrutiny...

June 18, 2018 - IMFnews

Prestwick Selling Fannie MSR Package Into a Strong Market

Prestwick’s George Christo cites “float earnings” as a significant value driver…

June 18, 2018 - IMFnews

Trump Picks Career Government Official to Head the CFPB. A Way to Keep Mulvaney in Charge?

Cowen: “We see the nomination of Kathy Kraninger as a way to keep OMB Director Mick Mulvaney in charge of the Consumer Financial Protection Bureau for years to come..."

June 18, 2018 - IMFnews

More Commercial Banks Bidding on Mortgage Servicing Rights. Changes to Basel III a Factor?

Ed Robinson, senior vice president in charge of mortgage banking for Fifth Third, told Inside Mortgage Finance his bank made a conscious decision to jump into the MSR acquisition arena…

June 15, 2018 - IMFnews

What We’re Hearing: There Goes the GSE Footprint / MBA Chief Tackles GSE Stock Speculators / Underwater: Pershing Square / Fannie-Freddie Charter Creep or are They Just Helping the Little Guy? / New Hires for TCF

It’s official: The Treasury Department’s goal is to reduce the footprint of Fannie Mae and Freddie Mac. Who says so? Treasury counselor Craig Phillips...


With mortgage production down noticeably this year from 2017, how many lenders might disappear via M&A or failure during the next 12 months?

10% or less. It’s not that bad out there.
11% to 25%. It’s a challenging market.
25% to 40%. It’s going to be very ugly.
No opinion.

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