It might be said that Mr. Cooper has timed the servicing market perfectly. While other shops grow tired of the vicissitudes of interest rates and MSR marks, Mr. Cooper has pounced, gobbling up portfolios that have only grown in value as rates stay stubbornly high.
Is the White House being less than forthcoming about job cuts at HUD and DOGE finding “misplaced” funds at the agency? You decide. But mortgage bankers are getting nervous.
Rate is contemplating selling its title unit, a move that comes amid some states capping how much coverage providers can charge consumers. Meanwhile, the nonbank is selling MSRs on a regular basis.