Investments in technology are helping Mr. Cooper reduce its servicing costs and allowing the industry’s largest servicer to place competitive bids on servicing portfolios.
A new study from J.D. Power showed that mortgage servicers could better meet customer demands by implementing online chat and AI technologies into their workflows.
Lenders, servicers and tech vendors are touting their latest products that include AI; many borrowers don’t appear to be ready to embrace AI in the mortgage process; and a handful of non-AI announcements.
Bulk sales of agency mortgage servicing rights shifted to prepayment-protected coupons of 4% or less, while transfers of refinance-rich MSR slowed. (Includes three data tables.)
Loan performance slightly deteriorated in agency mortgage-backed securities during the third quarter, with delinquencies increasing across all late-payment categories. (Includes data table.)
Six of the top 10 significant defects in loans acquired by Fannie Mae in the first quarter of this year weren’t on the list in the last quarter of 2023. Income calculation, though remained at the top of the list.
A court recently ruled that the fall in Rocket’s stock price following the release of first-quarter 2021 earnings was driven by substantive disclosures rather than public statements by the company’s CEO.
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