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Inside Mortgage Finance

May 2, 2019

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Consolidation and Structural Change Reshaping Servicing

The mortgage servicing business is seeing growing consolidation, especially in the second tier of market participants. Mergers, MSR sales and subservicing continue to reshape the market. Read More

Sources: Freedom Mortgage in Talks to Buy RoundPoint

It appears that RoundPoint Mortgage is once again on the auction block. This time around, it looks as though the $90.5 billion residential servicer will be sold to top-ranked Freedom Mortgage, Stan Middleman's shop. But it's not a done deal, sources say, at least not yet.

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FHA Performance Smooth, But Some Old Issues Linger

A roundtable discussion hosted by the CHLA found the FHA mortgage insurance program performing smoothly, though old, unresolved issues lingered.

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Cenlar, LoanCare Vying for New Rez Subservicing

Ditech is about to lose a huge subservicing contract that it has with New Residential Investment Corp. A handful of subservicing vendors are considered finalists to replace Ditech, including market leader Cenlar and the number-three ranked LoanCare.

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Subservicers Cater to Variety of Client Needs, Strategies

Compliance relief is one of the major benefits that leads owners of mortgage servicing rights to use subservicers, including some of the largest MSR investors in the market. Read More

GSEs Earn $3.8B in 1Q, Hedging Marks Weigh Heavily

Fannie Mae and Freddie Mac in the first quarter of 2019 earned a combined net income of roughly $3.8 billion — all of which is likely to be sent as dividend to the Treasury Department. 

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IRS Modernization Bill Gains Traction in Congress

Faxing income verification requests to the IRS may soon be a thing of the past as a bill seeking to modernize IRS processes has found strong support in Congress.

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RESPA Cases Revived Against Zillow, Lenders

Zillow failed to win an early dismissal of a suit alleging its co-marketing program violated RESPA. Separately, a group of lenders including Bank of America will face revived kickback claims under RESPA.

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HUD Delays Implementation of Controversial DPA Policy

Faced with a lawsuit from a tribal housing-finance agency, HUD has delayed implementation of a new policy regarding downpayment assistance programs for at least 90 days.

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As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?

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