Many of the top nonbank servicers recorded strong increases in their agency servicing rights, through both organic production and bulk MSR purchases in the secondary market. (Includes two data charts.)
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Eager to tap a red-hot servicing market, nonbank mortgage shops are sidling up to the sales trough. How long might the bonanza last? Maybe all year.
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Servicers aren’t rushing to complete foreclosures as borrowers reach the end of their forbearance plans. The CFPB has a close eye on mortgage shops, prompting caution among industry participants.
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It should be a banner year for mergers and acquisitions in the residential finance space. Already, two deals have been announced, with more likely to follow.
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The recommendations from a coalition of lenders, led by the Mortgage Bankers Association, were oriented largely at reducing the burden of data collection by allowing loans to be screened out of the process more easily.
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The housing community continues to search for signs of negotiations on the Build Back Better agenda, but whether the legislation will pass or how much housing funding will remain in the final version of the bill is anybody’s guess.
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loanDepot’s founder is busy buying luxury homes these days. In a few weeks we’ll know how well the company did in the fourth quarter. Meanwhile, non-agency MBS production remains brisk.
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