Altisource setting up alternative lending operations; Reverse Mortgage Funding offers non-agency MBS with proprietary reverse mortgages; Dovenmuehle assessed as “above average” by Moody’s.
Trends varied among the largest servicers of jumbo mortgages in the first quarter. Portfolios increased overall while the top two jumbo servicers reduced their portfolios. (Includes data chart.)
While non-agency MBS issuance was essentially level in the first quarter of 2022, there was some movement among servicers in the sector. Servicing activity at Cenlar and UWM dropped, while Shellpoint and smaller servicers increased their market share. (Includes data chart.)
A look at the performance of investment-property loans reveals some differences between GSE-eligible loans and non-agency mortgages. Performance also differed from owner-occupied prime jumbos and non-QMs.
UWM offering bank statement mortgages; Spring EQ expands HEL guidelines; Toorak issues bridge loan securitization; non-QM impairments steady in January; new law to help with LIBOR-linked legacy deals.
Firms active in nonprime servicing increased their portfolios by 7.5% on an annual basis in 2021. Servicers also are turning to loan modifications as forbearance plans end. (Includes data chart.)
While delinquencies on non-QMs spiked in the early days of the pandemic, many of those borrowers returned to making payments or cured their debt without the loan holders suffering large losses.
Nearly every company in a group of 30 prominent servicers of jumbo mortgages increased their respective portfolios during the fourth quarter. Jumbo servicing also increased on an annual basis. (Includes data chart.)
Select Portfolio Servicing added nearly twice as much servicing from just-issued non-agency MBS in the fourth quarter as it did in the third. Shellpoint remains the largest servicer of recently issued non-agency MBS. (Includes data chart.)
A&D Mortgage receives servicer rating; Bayview buys operator of “We Buy Ugly Houses;” Redwood invests in firm that applies AI to photos from real estate listings.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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