Subservicing volume increased during the third quarter but that could change as lending giant United Wholesale Mortgage is set to bring its servicing in-house. (Includes data table.)
UWM presently uses two subservicing vendors to handle its monthly processing chores: Cenlar FSB and Mr. Cooper, the latter of which is being sold to Rocket.
A few months back, Marlin Mortgage parted ways with COO Steve Stone. Now, describing himself as a whistleblower, Stone is suing the MSR owner, accusing the firm of a host of questionable moves.
The former Freddie executive said eliminating mortgage servicing rights, or transferring them to the GSEs, would eliminate the need for nonbank mortgage servicers to make servicing advances on delinquent loans.