Servicing

Browse articles from IMFnews related to Servicing.

May 23, 2018 - IMFnews

Short Takes: Applications Decline/ Delinquencies Improve / MBA Hires Senate Staffer / New Proprietary Reverse Mortgages

Applications for purchase mortgages and refinances both declined.


May 16, 2018 - IMFnews

Short Takes: Time to Change the QM Rule? / Bright Tapped to Head Ginnie / MSR Sellers Sitting Pretty? / After the Recession… / Applications Decline Again / NAR’s Chief Lobbyist Sets Retirement Date

Residential firms looking to sell mortgage servicing rights are in a sweet spot right now. However...


May 16, 2018 - IMFnews

M&A Market Heats Up, Union Home Buys Arizona Lender

UHM has roughly 130 retail branches across 36 licensed states…


May 16, 2018 - IMFnews

Mortgage Performance Improves in First Quarter; But FHA/VA Delinquencies Increase on an Annual Basis

The higher delinquency rates on FHA/VA loans are likely tied to hurricanes that struck select markets last fall.


May 16, 2018 - IMFnews

HomeStreet Contemplates Selling a $5 Billion Package of Servicing Rights

HomeStreet restructured its mortgage business last year…


May 16, 2018 - IMFnews

Provident and Stearns Lending Lost Money in 2017: Moody’s

Moody’s detailed profitability levels for four large private nonbanks: Freedom Mortgage, Provident Funding Associates, Quicken Loans and Stearns Lending.


May 15, 2018 - IMFnews

Short Takes: USMI Seconds that GSE Emotion / Don’t Hold Your Breath / Mid America Enters the Warehouse Arena / Fannie Selling NPLs / A Recession Coming? / Freddie Gets a New Chief Compliance Officer

Barry Habib, who heads MBS Highway, believe that within two years, the U.S. will be in a recession...


May 15, 2018 - IMFnews

New Rulemaking Agenda Suggests a Restrained Role for the CFPB

The updated agenda is the CFPB’s first under Mulvaney’s leadership.


May 15, 2018 - IMFnews

GSE Share Prices Weaken; KBW: Risk-Sharing Deals Hurt Profits

KBR points out that risk-sharing results in premiums being shifted away from Fannie and Freddie to providers of credit risk protection.


May 15, 2018 - IMFnews

Flagstar Packages GSE-Eligible Mortgages on Investment Properties into Non-Agency MBS

Packaging the loans into a non-agency MBS suggests that Flagstar expects better execution in the non-agency market than from delivering the mortgages to Fannie Mae or Freddie Mac.


May 14, 2018 - IMFnews

Short Takes: Ditech Ready to Roll Out Jumbo Product? / Who is Samuel Martini and Why Does he Like Ditech? / An Explanation of Legal Risks / What’s $164 Trillion Among Friends?

Total U.S. debt outstanding is just over $21 trillion. Prior to the financial crisis, U.S. mortgage debt was actually larger than Treasury debt...


May 14, 2018 - IMFnews

Phoenix Ready to Auction MSR Flow Package

Much of the product is projected to come from California, Florida and Texas.


May 14, 2018 - IMFnews

Nationstar Discloses SEC Inquiry Regarding MSR Measurements

The OCA consultation process was initiated in connection with an investigation by the Division of Enforcement that remains ongoing, the nonbank said.


May 11, 2018 - IMFnews

What We’re Hearing: Anxiety Rising Regarding GSE Reform / Higher G-Fees? No More Cash-out Refis? / What Mick Mulvaney Might Do if He Headed the FHFA / Mulvaney’s PADs / Layoffs at Impac

Surely, conservatives are applauding the way Mulvaney is trying to remake the Consumer Financial Protection Bureau...


May 11, 2018 - IMFnews

Collateral Backing Freddie LOC $5 Billion to $7 Billion in Size?

A former Fannie executive (pre-federal takeover) said that when he worked at the GSE, “We looked at doing this, but were told it wasn’t in the charter and so we didn’t proceed.”


May 10, 2018 - IMFnews

Short Takes: Impac Employees Looking Around? / Ex-CFPB Chief Cordray Wins in Ohio, but… / Will Warren Pick Cordray to Head the CFPB (Again)? / AIG Unit Readies Jumbo MBS / PennyMac Restarts Jumbo Unit

Cordray was never popular in the mortgage industry because of all the regulations he heaped on lenders and servicers...


May 10, 2018 - IMFnews

Impac Posts a $3.9 Million Profit for 1Q18, Aided by MSR Markup. Originations Drop 20.1 Percent

New CEO George Mangiaracina said the nonbank’s servicing portfolio is serving as a counter-cyclical balance to declining originations…


May 9, 2018 - IMFnews

Capital One Selling $17.0 Billion Loan Portfolio to Subsidiary of Credit Suisse, Which Will Sell to PIMCO

As of the end of March, Capital One handled a $25.78 billion servicing portfolio, making the firm the 49th largest servicer, according to Inside Mortgage Finance.


May 9, 2018 - IMFnews

Short Takes: Caliber Brings Ginnie MSR Deal / The Nation’s Highest Paid Loan Broker: Doug Lebda ($59M) / Ex-Fannie Exec a Candidate for FHFA Job? / The PHH Head Count

It was a nice pay check last year for LendingTree founder and CEO Douglas Lebda...


May 9, 2018 - IMFnews

Another Quarter and More Red Ink for PHH Corp.

PHH CEO Robert Crowl: "Our team is fully committed to executing our business plans and meeting the closing requirements for our merger with Ocwen."


May 9, 2018 - IMFnews

Ginnie Mae Reinstates Nations Lending Following Talks on Loan Churning

Nations Lending was reinstated by Ginnie Mae after reaching a confidential agreement…


May 8, 2018 - IMFnews

MIAC Offers Up $2.2 Billion of Servicing Rights

The seller of the portfolio will provide full representations and warranties.


May 8, 2018 - IMFnews

Redwood Posts a Handsome Profit for 1Q18, Reports Strong Demand for Jumbos

Redwood is set to issue its largest expanded-credit MBS ever: A $520.48 million security backed by…


May 8, 2018 - IMFnews

New Residential Hires Fortress Executive David Schneider as New CAO

Fortress also controls roughly 500,000 shares of New Residential's common stock and holds options on 18.1 million shares.


May 7, 2018 - IMFnews

Short Takes: Being in Debt to a GSE, Not So Bad / FHFA Approved the Product / Coming Soon: Large MSR Deals / Wedbush Drops Coverage of Capital One / RIP: Safeguard Founder Robert Klein

But before anyone gets too excited, the Federal Housing Finance Agency approved the Freddie initiative…


May 7, 2018 - IMFnews

Prospects Suddenly Brighten for Regulatory Relief…

Earlier in the month, Rep. Jeb Hensarling, R-TX, said he is open to “other pathways…”


May 4, 2018 - IMFnews

What We’re Hearing: The New MBA CEO Will Be… / A ‘November Surprise’ for GSE Reform? / Is it 10 Years Already? / What ‘Mr. Market’ Thinks of Fannie and Freddie / GSE CRT Deals, a Great Return? / NewDay in the Clear?

Here’s a prediction: GSE reform legislation will only pass if, and when, the Democrats take control of the House, Senate and the White House.


May 4, 2018 - IMFnews

PennyMac’s Net Income Declines as Nonbank Cites Intense Competition for Originations

PennyMac entered the broker channel in January and took in $7 million worth of product during the first quarter…


May 4, 2018 - IMFnews

$5.1 Billion of GSE Mortgage Servicing Rights Up for Grabs

The average loan size is $285,547 with the average LTV coming in at 70.0 percent.


May 3, 2018 - IMFnews

Short Takes: Investors Unite: Mel Watt is the Only One ‘Tuned into Reality’ / Strong 1Q18 Results for Nationstar / Loan Production Not so Bad Either / Finance of America Wants Brokers to Call it This / Correction on New Day

Investors Unite: "We’re in trouble if the secret plan for GSE reform rests on axing the only public official who is actually tuned into reality…”


May 3, 2018 - IMFnews

Fannie Mae Has a Blowout 1Q18, Will Make a $938M Dividend Payment to Treasury

Come June, Fannie Mae will cut a new dividend check to Uncle Sam...


May 3, 2018 - IMFnews

Nonbanks Continue Their Gains in the Servicing Market; Top Tier Loses Ground

Compared to March 2017, the combined nonbank servicing business was up 14.7 percent, while banks in the top 50 saw a 2.4 percent decline from a year ago.


May 2, 2018 - IMFnews

Short Takes: What’s in a Name? / First, We Change the Name in the AP Style Book / CRL Wants FHA Changes / Fannie Tech Official Departs for Vendor

CFPB Acting Director Mick Mulvaney: “I don’t know why we call it the CFPB; that is not the name of the organization..."


May 2, 2018 - IMFnews

Impac’s Two $6M Men Got Their Pay Slashed in 2017

Impac has yet to disclose when it might release first quarter results.


May 2, 2018 - IMFnews

Ocwen Posts a (Small) Profit, but Revenues Keep Heading South

Ocwen has tried to mend its ways, noting in the new report: “We have now resolved all of the state cease and desist orders (but not all of the legal actions) taken against us….”


May 2, 2018 - IMFnews

Net Income of $8.3M for Great Ajax, REIT Looks to Acquire More RPLs

Great Ajax’s forte is buying re-performing mortgages…


May 1, 2018 - IMFnews

Short Takes: Freddie Mac Multifamily Continues to Shine, but… / UWM Rolls Out New Website / Seed Money / Nationstar Looking at a Large MSR Markup? / Mulvaney: I’m Not Running a Yelp / New Hires for Freddie, Angel Oak

Not too long ago, UWM rolled out a $500,000 grant program designed to allow LOs to start their own loan brokerage firms...


May 1, 2018 - IMFnews

Freddie Posts Strong 1Q18 Profit Thanks to G-Fee Income, Gains from Derivatives (and No More DTA Hits)

Even though the GSE posted a strong profit, it saw MBS issuance fall 37.2 percent in the first quarter...


May 1, 2018 - IMFnews

Consumer Mortgage Complaints Take a Dive

Total gripes filed during 1Q18 were down 36.3 percent from a year ago…


May 1, 2018 - IMFnews

The GSE Reform Bust Blues: Worrying About Mel Watt’s (Potential) Successor at the FHFA

There’s been speculation that when the Trump administration picks Watt’s successor, one of the first things that person might do is impose a loan-size purchase limit on the two government-sponsored enterprises.


May 1, 2018 - IMFnews

The Nonbank Share of GSE Servicing Now Stands at 37.5 Percent – and Growing

Matrix Financial Services is another nonbank rapidly climbing the GSE servicing ranks…


April 30, 2018 - IMFnews

Short Takes: HUD Yanks Approvals on 23 Lenders, Most of Them Banks / Goldman Sachs, Warehouse Lender, but… / Rep. Waters None Too Happy with Mulvaney / A Document Dump is Requested / A Promotion at J.G. Wentworth

Rep. Waters wants CFPB acting director Mulvaney to turn over documents regarding meetings he's had with the industry...


April 30, 2018 - IMFnews

Agency Servicing Transfers Slowed in Early 2018

In 1Q18, the top three coissuance sellers of servicing rights were Fairway Independent Mortgage, Finance of America, and Movement Mortgage.


April 30, 2018 - IMFnews

CMLA Picks Industry Vet Ed Wallace as New Director

CMLA favors a recapitalization and reform plan for Fannie Mae and Freddie Mac, one where they are transformed into “utilities.”


April 27, 2018 - IMFnews

What We’re Hearing: GSE Reform? How About 2021? / The Return of Ed DeMarco? / No Political ‘Protection’ for Fannie and Freddie / RMS Scores a Repo Line from Barclays / Bucking the Production Trend: Home Point / New Hires for Plaza Home

Mel Watt has roughly eight more months in office, but already industry lobbyists and GSE watchers are playing “guess who the next FHFA director might be.”


April 27, 2018 - IMFnews

Western Asset Goes Big with its First Non-QM MBS: A $1.25 Billion Deal

Interesting fact: Most of these non-QM loans were originated by banks...


April 27, 2018 - IMFnews

MSR-Investing REIT New Residential Has a Blowout 1Q18: A Profit of $614.3 Million

New Residential said during and subsequent to the first quarter, it entered into agreements to buy $38.0 billion of mortgage servicing rights...


April 26, 2018 - IMFnews

Short Takes: Losses at Privately Held Shops? / Refis Near a 10-Year Low / Will the CFPB Target Rate-Lock Commitment Abuses? / Strong Earnings for Radian but Clayton a Drag / A New Hire for United Wholesale

Radian's mortgage and real estate services division – which includes due diligence provider The Clayton Group – continues to struggle...


April 26, 2018 - IMFnews

Altisource Reports a Loss, Declining Revenue and Says the CFPB Won’t Take Action Against It

In February of last year, Altisource disclosed in an SEC filing that the CFPB was looking into the vendor’s relationship with Ocwen...


April 26, 2018 - IMFnews

Acting FHA Chief Dana Wade Sees Disturbing Trends, Worries About Potential Losses

Warning sign: In February, the percentage of FHA borrowers with DTI ratios above 50 percent rose to 24.6 percent, up from 19.8 percent a year ago.


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