During a recent webinar on MSR strategies, industry attorney Larry Platt of K&L Gates said he knows of “certain sales that have been held up for quite some time.” He noted: “You really can’t get a handle on what the cause of it is.”
Bad news for Nationstar and Ocwen? S&P said downgrades on servicer-advance ABS are possible because the analysis that accompanied ratings on certain deals didn’t consider subordinated interest amounts as part of the ratable promise.
FHFA Director Mel Watt may have something to say soon on the topic of Fannie Mae/Freddie Mac loan level price adjustments, commonly known as LLPAs. As for the GSE 'Scorecard'...
Currently, MSRs can only account for 10 percent of Tier I capital, but MBA thinks it should be raised to at least 25 percent for banks, and 50 percent for thrifts and savings and loans.
Did the FHFA late last summer/early fall raise concerns regarding a certain nonbank servicer’s capital in regard to a huge portfolio of mortgage servicing rights that it had bought earlier in the year from a megabank?
Since late last year, the FHFA has decreed that it must approve any GSE servicing sale of 25,000 loans or more, which translates into roughly $5 billion of product.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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