The GSEs reportedly are in the hunt to hire special servicers to handle COVID-19-related forbearance claims. The reason: Some nonbanks may be living on borrowed time.
Subservicing vendors continued to make gains in the fourth quarter as the appetite for outsourcing grew. In short, some MSR owners just don’t want to deal with the hassle of loan processing and regulations. (Includes data chart.)
With rates falling to historic lows this week, originators are salivating at the possibilities. But will the boom bring capacity issues? Maybe, maybe not.
Although most of the CSS software developers let go were contractors, the company did have a few employees working in development. Now that the platform is finished, those positions are no longer required.
PennyMac wants out of its servicing platform marriage with vendor Black Knight. As might be expected, lawsuits and nasty allegations are the order of the day. The two have been working together for 10-plus years.
The FHFA issued a new rule that potentially paves the way for new competitors to the classic FICO model. VantageScore is happy but will other vendors jump into the credit scoring pool?
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