Increasingly, nonbanks have a large chunk of their assets tied up in mortgage servicing rights — some more than others. Is that a problem? (Includes data table.)
A 35-year veteran of residential finance — including more than a decade at Wells Fargo — Ken Logan is leading Huntington’s foray into warehouse finance. Also on the menu: loans backed by servicing rights.
Old industry hands like Mike Calhoun of CRL and former FHFA acting Director Ed Demarco say getting the GSEs out of conservatorship might be more complicated than the Trump administration believes.
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.
President-Elect Donald Trump is expected to replace Rohit Chopra as CFPB director. It’s not yet clear how the Trump administration plans to handle mortgage-related efforts in progress at the CFPB.
The cost of a credit score for originations is set to increase by 41% in January. The plan prompted trade groups representing lenders to renew calls for regulators and Congress to address pricing practices for credit reporting products.
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