Trade groups believe the proposed rule will harm consumers by tightening credit standards. An association representing debt collection agencies warned that the proposal could lead borrowers to take on additional debt they can’t afford.
Interest rates on mortgages declined as the traditional homebuying season nears an end. Demand for purchase mortgages also continues to be limited by weak inventory of homes for sale and elevated home prices.
The servicing sales market has slowed this summer, but there are rumblings of activity. Freedom Mortgage, for instance, is peeling off a piece of its conventional portfolio. And a sale of SPS is in the works.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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