The GSEs have slowly been losing share in the servicing market since March 2022. In the second quarter of 2024, Ginnie Mae and the non-agency sector gained more servicing share. (Includes two data tables.)
At mid-year, Cenlar remained the largest subservicer in the land, but growing one’s book of contracts is getting more challenging. Meanwhile, PennyMac Financial wants to be a significant player. (Includes data table.)
More than a week after a Fed official outlined a planned re-proposal to adjust capital requirements for large banks, industry participants are still waiting for the formal document.
Believing in its prowess as a servicing recapture expert, Rocket Mortgage is itching to buy MSR packages. In other M&A news, a distillery wants to enter the origination business. Think of the cross-selling opportunities!
Nonbanks are making money once again, which could pave the way for new nonbank IPOs. Also, some of the IPO class of 2020/2021 are trading above their out-of-the-gate prices.
The mortgage delinquency rate is rising in tandem with the unemployment rate. While early-stage delinquencies are growing, borrowers are largely avoiding foreclosure thanks to home equity and loss mitigation. (Includes data tables.)
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.
News Tailored to Your Needs
Get Focused Coverage
Inside Mortgage Finance's newsletters break the mortgage market down so you get the news and data you need most, whether it's total industry coverage or just the news related to securitization, regulation, profits or other specific topics.
RSS