Ocwen Takes Loss in First Quarter as Servicing Value Declines May 4, 2023 Brandon Ivey Servicing still looks more attractive than lending at the moment.Read More
MSR Transfers Cool Off in First Quarter May 3, 2023 John Bancroft Transfers of agency mortgage servicing rights in the first quarter of 2023 dropped 50.1% compared with the previous quarter.Read More
A Quarterly Loss, but Two Harbors Keeps Buying MSRs May 3, 2023 Paul Muolo The sellers of the MSRs were not identified, but in the past Two Harbors has bought product from banks and nonbanks alike...Read More
Short Takes: Purchase-Mortgage Applications Down / Planet Looking for Retail Shops / FoA Turns to Ocwen / New MBS from Velocity May 3, 2023 Brandon Ivey Applications for refinances increased by 1.0% last week and applications for purchase mortgages declined by 1.0%.Read More
Up for Grabs: $37 Billion of Mostly Non-Agency MSRs May 2, 2023 Paul Muolo The offering circular notes, “The seller will be providing customary representations and warranties.”Read More
CFPB Finds PACE Loans Prompt Increase in Mortgage Delinquencies May 2, 2023 Brandon Ivey The regulator issued a proposed rule to set ability-to-repay standards for PACE loans.Read More
Short Takes: JPM, First Republic and Jumbos / Home Prices Increasing / Change in Non-QM Performance / Another Servicer Slated for Sale / Cook's Comp May 2, 2023 Brandon Ivey and Paul Muolo Chase isn’t going to follow First Republic’s jumbo-lending model.Read More
Servicing Values Fell Slightly in 1Q23, but Bids Still Strong May 1, 2023 Paul Muolo The good news is that so far all of the downward adjustments MSR owners booked have been small.Read More
Short Takes: At FRB Friday It Was Take a Number / Plenty of IOs / Top MSR Buyers? / What’s It Going to Be, FOMC? / Stable Margins May 1, 2023 Paul Muolo It will be interesting to see what JPM does with all those interest-only jumbos...Read More
PennyMac’s Profits Decline in First Quarter April 28, 2023 Brandon Ivey PennyMac's originations were essentially level in the first quarter, helping the lender become the largest producer in the industry.Read More
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