Select Portfolio Servicing is one of the largest non-agency MBS servicers in the nation — and it’s on the auction block once again.

The first quarter revealed slippage in warehouse financing and that Flagstar, a longtime player in the space, was pulling the plug. Still, there was a hint of good news: More nonbank originators are operating at break-even or better.

Hometown Lenders has filed for bankruptcy citing issues stemming from interest rate trends. Plenty of conventional lenders have folded their tents the past two years, but there hasn’t really been a groundswell in bankruptcy filings.

Flagstar, which recently sold a chunk of its warehouse business to JPMorgan Chase, is one of Hometown's largest creditors...

The California-based nonbank ranks 17th among home funders and 18th among owners of mortgage servicing rights.

As MBA recently noted, personnel expenses tied to loan production declined in the first quarter...

Keefe, Bruyette & Woods on Sunday upgraded mortgage insurers MGIC and Radian to “outperform” from “market perform.”

To date, nonbank lender/servicers that play in the conventional/government arena have had mixed success in capitalizing on using REITs that sell shares to the public.

Time to REIT-up for United Wholesale Mortgage? Not really, company management said recently. Just two A-paper nonbank lender/servicers — Freedom Mortgage and PennyMac — have jumped into the REIT pond, with different growth outcomes.

Changes could be underway in the subservicing sector. Number-one ranked Cenlar soon may be out from under OCC regulatory sanctions, while Select Portfolio Servicing takes a second trip to the auction block. (Includes data table.)