Income Drops at Mr. Cooper in Fourth Quarter February 9, 2024 Brandon Ivey The nonbank is set to have a $1.1 trillion portfolio as of the end of March.Read More
Short Takes: Waters Pushes Affordable Housing / Fannie Selling NPLs / Home-Improvement Loan Securitization / CFPB Settles Foreclosure Relief Scam February 9, 2024 Brandon Ivey Rep. Maxine Waters, D-CA, reintroduced a package of bills aimed at affordable housing.Read More
An MSR-Related Loss for Rithm, GOS Falls to Low for the Year February 7, 2024 Paul Muolo Rithm is in the process of buying Specialized Loan Servicing. The sale should close by March 31.Read More
Short Takes: NewRez Turns to AI / Regulators Seek Comments on Burdens / Velocity Issues New Debt / Setting the Record Straight on CRA February 7, 2024 Brandon Ivey NewRez said AI can analyze customer data and preferences to recommend suitable products.Read More
Now Open for (Certain) Nonbanks: The Debt Market February 5, 2024 Paul Muolo One thought: Nonbanks will use the cash to purchase MSRs from federally insured depositories...Read More
Nonbanks Gain More Servicing Share in Fourth Quarter February 2, 2024 John Bancroft A big chunk of the nonbank gains came through secondary-market acquisitions.Read More
PennyMac Increases Originations and Production Profit February 2, 2024 Brandon Ivey On a pre-tax basis, PennyMac’s production segment generated $39.4 million in income in the fourth quarter, up 56.3% from the previous quarter.Read More
Short Takes: Impairments on Non-QMs Up Again / New CRT From Freddie / Redwood Back Quickly With Jumbo MBS / Promotions at Northpointe Bank February 2, 2024 Brandon Ivey The impairment rate on securitized non-QMs increased by more than 100 basis points between August and December.Read More
Short Takes: Large Package of MSRs on Offer / Home Equity Declines / Homeowners Still Locked In / Tepid Home Tour Activity February 1, 2024 Brandon Ivey Incenter is marketing a sale of GSE MSRs with a total unpaid principal balance of $15.06 billion.Read More
Large GSE Servicers Gain Share in Fourth Quarter January 31, 2024 Dennis Hollier The GSE servicing share among large independent mortgage banks went from 36.6% at the end of September 2023 to 36.9% at year-end.Read More
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