The volume of jumbo servicing handled by 30 of the top firms in the sector declined by nearly 6% in 2020. The share of borrowers missing payments is increasing. (Includes data chart.)
Non-agency forbearance increases; personnel moves at Deephaven, Wells Fargo and Quontic; new non-agency MBS; a jumbo mortgage symposium; PCMA loosens standards for jumbo product.
Shellpoint processed more than 25% of the dollar volume of non-agency MBS issued in 2020. Servicers continue to grapple with elevated delinquencies, forbearance and concerns about disclosures. (Includes data chart.)
Non-agency forbearance declines; Pacific Western Bank acquires Civic Financial Services; Velocity inks new financing; Angel Oak Commercial Lending set for growth.
The servicing standards proposed by the CSBS for nonbanks need to be significantly overhauled or dropped altogether, according to industry com-mentors.
Non-agency forbearance increases; SFVegas delayed to late July; Maxex offering preferred pricing on jumbos to certain lenders; NewRez non-QM VP opening; PCMA hires VP of direct channel originations.
Loans in forbearance decline; non-QM impairment rate falls; non-agency trading booming at Maxex; fix-and-flip lender on track for $1 billion in production; former Ocwen CFO now leading LendingHome.
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