For the most part, subservicing growth has been slow, thanks to booming MSR sales and some non-traditional servicing owners shifting strategies. Cenlar, though, remains the nation’s number one subservicer. (Includes data chart.)
Thanks to the spike in MSR sales this year, reviews of the underlying collateral are backing up, causing delays in portfolios being transferred to new owners. Implications?
Agency seller/servicers have a new set of net worth requirements to adhere to. The good news: The final language is close to what was originally proposed.
When it comes to default management hires, subservicer Cenlar has been a busy bee, adding a handful of new VPs. Is it expecting an increase in delinquencies or is something else afoot?
The total delinquency rate stood at 3.44% as of the end of June, among the lowest levels seen since the launch of Inside Mortgage Finance’s Large Servicer Delinquency Index in 2003. (Includes data chart.)
Cenlar, the nation’s largest subservicer, has a new leadership team. The move comes roughly 10 months after federal sanctions were filed against the firm.
The top five servicers saw almost no growth in their combined owned servicing during the second quarter. But a number of companies in lower tiers posted big gains. (Includes three data charts.)
The REIT’s investments in MSRs increased by 20.2% in the second quarter, based on unpaid principal balance, to $109.0 billion as of the end of June. Annaly sees the assets as a nice hedge to its traditional investments in agency MBS.
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