Delinquencies continued to decline in the third quarter, helped by a strong employment market and economic growth. However, there are some signs that late payments might inch upwards. (Includes data chart.)
The CFPB plans to assess the effectiveness of the integrated mortgage disclosure rule, which is almost five years old. But be forewarned: It will not necessarily lead to elimination, or even modification.
The banks are testing an incentive payment mortgage servicing compensation structure for certain non-agency deals. The move aims to align expenses and revenues for servicers faced with delinquent loans.
Plenty of investors are looking to acquire servicing rights, including a handful of banks, according to industry participants. The outlook for the sector is rosy, though early-stage delinquencies are on the rise.
PennyMac wants out of its servicing platform marriage with vendor Black Knight. As might be expected, lawsuits and nasty allegations are the order of the day. The two have been working together for 10-plus years.
PennyMac Financial is doing so well these days that it decided to declare a dividend to its common shareholders. When’s the last time a nonbank accomplished such a feat? Hard to say.
HPS Investment Partners, a firm chock full of Wall Street veterans, has agreed to buy non-QM lender Citadel Servicing Corp. After the sale closes, CSC founder and CEO Dan Perl will part ways with the firm.
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