Residential servicers started 47,955 new foreclosures in the quarter, a 1.6 percent sequential decline, and a whopping 25.3 percent fall compared to a year ago.
“Mr. Mulvaney has been described as a staunch deficit hawk and his nomination is viewed as sending a signal that federal regulations are likely to face tough scrutiny in a Trump administration,” Mishkin said.
PHH, the nation’s eighth largest originator, has offered no guidance on when it might file, except to say, “We will file no later than that date [Dec. 22].”