Costs up, profits down: Closing a mortgage gets more expensive

Costs up, profits down: Closing a mortgage gets more expensive

In just one quarter the profit dropped $153 per loan

Blogatative Easing: Ben Bernanke, Brookings blogger

Return to the scene of the crime?

Mortgage brokers: Update your stump speech on mortgage lending, Mr. President

NAMB says mortgage brokers have been at forefront of reform
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Items Tagged with 'mortgage servicing'

ARTICLES

3 things you need to understand about mortgage default rates

Urban Institute: First things first
Trey Garrison
The researchers at The Urban Institute have a new report worth a look. It’s a critical read if you’re going to understand mortgage default rates. Here’s what they have to say.
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Wells Fargo cutting 1,000 mortgage servicing jobs

Will shutter Milwaukee office by July
Trey Garrison
The bad news? Wells Fargo is cutting about 1,000 mortgage servicing jobs. But the good news is that the job cuts mean there are fewer legacy and problem mortgages to service.
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Nationstar to fund MSR purchases with stock offering

Announces plans to sell 17.5 million shares of common stock
Ben Lane
In the last month, Nationstar Mortgage reached two separate agreements with Ocwen Financial to purchase nearly $35 billion worth of mortgage servicing rights. Nationstar is planning to fund those purchases by executing a public offering of common stock.
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Black Knight: Foreclosure inventory reaches lowest level since 2007

Last month’s jump in foreclosures reverse course
Trey Garrison
January’s jump in foreclosure starts reversed course - and then some - in February, dropping by 15% to 79,700 for the month, its lowest level since last November, and the third lowest point in at least seven years. Here's what happened.
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California federal court holds in MERS’ favor

MERS has statutory right to notice as a beneficiary
Trey Garrison
You can’t end-around a beneficiary under a recorded deed of trust, and they are entitled to a right to notice, a federal court in California ruled, chalking up another victory for MERS.
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Zillow: Underwater homeowners sink deeper even as home values rise

Rate of underwater mortgages stalled, worsening in some places
Trey Garrison
Rising prices have freed millions of homeowners who owed more on their mortgages than their homes were worth. But new Zillow data shows a troubling change in that trend.
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Ocwen to sell $9.6 billion mortgage servicing rights portfolio to Green Tree

Ocwen agency MSR exodus continues
Ben Lane
Ocwen Financial’s exodus from agency servicing just took another giant step forward. The company announced Wednesday morning that it intends to sell a $9.6 billion mortgage servicing rights portfolio to Green Tree Servicing, a subsidiary of Walter Investment Management.
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CoreLogic: More than 1 million homeowners regained equity in 2014

5.4M properties still underwater as of 4Q14
Trey Garrison
The number of homeowners achieving equity rose, and the number underwater, though still high, is falling like the price of West Texas crude. Here’s what’s happening.
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NAFCU throws its support behind community lending regulatory relief bill

Bill would make NCUA study impact of risk-based capital proposal
Trey Garrison
Credit unions and smaller lenders need relief from proposed new regulations and rules on credit unions’ mortgage servicing assets, NAFCU says. Here's why.
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CoreLogic: Foreclosure inventory drops 33.2% over last January

Florida sees drop of almost 50%
Trey Garrison
The floodwaters of the housing crisis continue to ebb, with foreclosures continuing their decline, and the current rate of homes in serious delinquency likewise falling. Here’s the latest.
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