The strongest pulse in the secondary market for MSR was in coissuance transactions involving Fannie and Freddie servicing rights. Bulk deals continue to struggle. (Includes three data charts.)
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Wells Fargo's huge increase in mortgage-banking income accounted for nearly all the gain reported by 19 publicly traded banks. Still, the second and third quarters of 2020 were incredibly lucrative for mortgage banking platforms. (Includes data chart.)
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Pretium Partners and a unit of Ares Management will acquire Front Yard Residential in a deal valued at $2.4 billion. The move follows recent complaints from shareholders regarding mismanagement.
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Industry trade groups are joining hands with nonprofits to develop an outreach campaign to address distressed borrowers who have avoided making contact with their servicers.
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The coronavirus pandemic has sped the adoption of remote online notarizations, but uniformity and collaboration are critical for sustainability.
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The median home price rose 14.4% to $333,900 for the fiscal year ended September while home sales increased 17.6% — both records according to Redfin.
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