National Mortgage News (Servicing) RSS

• MSR retention hits 57% share: benchmark your sell strategy

  Weak refi demand is pushing lenders to lean on servicing income, as tighter execution spreads and higher MSR values shift the industry's sell/retain calculus

• Pulte, FHFA fraud crackdown heightens counterparty vetting risks

  The Federal Housing Finance Agency has barred 51 people from working with Fannie Mae and Freddie Mac this year, the most suspensions in any calendar year.

• Pulte: 'cartel-like' bureaus should cut costs, eyes bi-merge

  The big three's trade group has said they operate legally and protect the industry with a trio of reports. FHFA also is opening up VantageScore for all lenders.

• Selene suit exposes servicer default notice risks

  Selene Finance is defending its communications to borrowers, and is arguing that plaintiffs' inquiries are too individualized for class certification.

• Stewart deepens servicing involvement with new acquisitions

  The real-estate services firm has purchased a title search company and affiliate just months after buying the Mortgage Contracting Services division from MCS.

• Low vacancy directs lenders to Midwest zombie and investor stock

  Vacancy numbers leveled off this quarter, but the share among units owned by institutional investors is more than double the overall national rate, Attom said.

• Rising foreclosures signal growth in Texas, Florida loss mitigation

  The July spike in foreclosures, led by Texas and Florida, presents an immediate opportunity for mortgage servicers to expand regional loss mitigation and default servicing capabilities.

• Non-QM RMBS reaches $78B despite rising impairments

  Non-QM securitizations hit $78B as lenders ease guidelines to capture unserved borrower demand, even as total impairments rise for the 10th time in 13 months to 6.27%.

• Berkshire in-house servicing pivot escalates retention threat

  Berkshire Hathaway's HomeServices is adding mortgage servicing to Prosperity Home Mortgage. The move locks purchase borrowers into its ecosystem, cutting off external lenders from future refi retention opportunities.