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.
Officials at Velocity said the acquisition of an FHA multifamily lender will help to expand the company’s product offerings and serve as a hedge for its traditional focus on business-purpose lending.
Wells Fargo was the only bank among the top 10 holders of first liens to reduce its portfolio during the third quarter. The bank’s holdings are also down sharply on an annual basis. (Includes data chart.)
The amount of nonprime servicing handled by a group of 15 firms was essentially flat between the end of June and the end of September. Three of the top five firms in the sector saw their portfolios shrink. (Includes data chart.)
Servicing of jumbo mortgages increased at most of the 30 top firms in the sector during the third quarter. However, top-ranked Wells Fargo bucked the trend. (Includes data chart.)
Number of non-agency mortgages in forbearance increases; Securent offering loan-defect insurance; Filo Mortgage launches jumbo offering; Lakeview Loan Servicing partners with Silver Hill Funding.