Colonial Savings to drop originations, refocus on servicing, banking
Citing "changing market dynamics," the company announced it will exit mortgage lending this summer.
Servicing
MSR market participants offer mixed outlook on buyer interest
Some in the space say they've seen new players coming in but others disagreed during a panel at the Mortgage Bankers Association's Secondary and Capital Markets conference.
These agencies may soon stop taking COVID-19 forbearance requests
Now that the national emergency is over some — but not all — government-related entities have set what may be final deadlines for this form of pandemic relief.
Mortgage forbearance share keeps shrinking
But the percentage of loans in workout no longer current increased in April, the Mortgage Bankers Association found.
Ginnie Mae’s MBS portfolio topped $2.3 trillion in 1Q
Although issuance of new securitizations has been low compared to year-ago levels, it rebounded as spring buying began
Incenter puts $7 billion in mortgage servicing rights up for bid
The offering comes amid an ongoing wave of private and public MSR sales.
Two Harbors bringing $15 billion in mortgage servicing on board
Although the company reported a loss, executives expressed confidence in its funding and liquidity.
CFPB issues warning to debt collectors on zombie second mortgages
Consumers are receiving demand letters on loans they have not had any communication about in at least 10 years, the regulator said.
Servicing rights up for bid include $5.42 billion portfolio
A couple small deals with some unusual regional concentration also are in the market and one broker says many billions of dollars more are in the pipeline.
Commercial, multifamily mortgage delinquencies rise in 1Q
Economic turbulence affected borrowers during the quarter and will likely impact their ability to refinance maturing loans, the Mortgage Bankers Association said.
Bank mortgage results good sign for nonbanks: KBW
Chase, Wells Fargo both reported increased gain on sale margins in the first quarter over the fourth, a potentially promising indicator for upcoming IMB earnings.
More than 10% of recent homebuyer loans are slipping underwater
Affordability constraints have made borrowers who bought properties within the last 12 months increasingly vulnerable to price declines.
Mortgage delinquencies decline for 22nd month: CoreLogic
The year-over-year drop in January stemmed primarily from loans where a payment had not been made in at least 120 days but shorter-term arrears were higher during the same period.
UBS, Credit Suisse pact stabilizes key source of mortgage financing
The government-backed acquisition heads off regulatory and financial concerns at a Swiss bank that could have affected overseas financial institutions that U.S. lenders count on.
What the SEC’s conflict of interest proposal may mean for mortgages
The government-sponsored enterprises will likely have their mainstay bonds exempted from the potential securitization-related rule, but their credit-risk transfers could be subject to it, some experts say.
Mortgage delinquencies rise as economy stumbles
The 51 basis point increase was inevitable after the late payment rate reached a record low in the third quarter, the Mortgage Bankers Association said.
Foreclosure activity in January may set the course for 2023
New starts surged 75% compared to a year ago, but repossessions saw their first decline in one-and-a-half years, according to Attom.
Rithm Capital predicts return of originations profits in early 2023
The company's mortgage operations posted a $24 million pretax profit thanks to servicing, while loan production saw a loss.
Consumer credit resilient even as debt, delinquencies rise
Average scores remain unchanged but signs of payment stress keep emerging, with Fannie Mae's serious delinquency rate up for the first time since August 2020.
Mortgage delinquency rates drop for the 20th consecutive month in November
But late borrower payments slightly grew in November, with 18 metro areas reporting an increase, up from six metro areas in October, CoreLogic's report found.
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