The REIT is just starting to purchase MSRs. At the end of September it had $15.7 million of mortgage servicing rights on its balance sheet, but that figure should rapidly change in the quarters ahead.
When it comes to auditing mortgage lenders, does the CFPB know what its doing? It all depends on who you talk to. Also, the FHFA cracks down on force placed insurance (again).
Early Thursday, EverBank disclosed that it is selling $13.4 billion of Ginnie Mae servicing rights, while transferring $6.9 billion in subservicing to Walter Investment Management Corp.
Moodys believes the servicers transitions into mortgage originations was positive, but raised concerns about declining refinance opportunities, competition with banks and the potential for nonprime originations.
At press time, there were reports circulating that one mid-sized nonbank planning to enter the correspondent acquisition market had pulled the plug and laid off staff. The firm is expected to talk to IMFnews Thursday morning.