The latest economic and policy trends facing mortgage servicers

Join this webinar for an in-depth roundtable discussion on economic and policy trends impacting servicers as well as a look ahead at strategies servicers should employ in the next year.

2021 RealTrends Brokerage Compensation Report

For the study, RealTrends surveyed all the firms on the 2021 RealTrends 500 and Nation’s Best rankings, asking for annual compensation data for the 2020 calendar year.

Zillow analyst on whether home prices can keep climbing

Today’s episode of HousingWire Daily features an interview with Nicole Bachaud, as she discusses annual and monthly home price appreciation growth, rising inventory levels and rent prices.

Lenders, it’s time to consider offering non-QM products

The non-QM market is making a comeback following a pause in 2020. As lenders rush to implement, Angel Oak is helping them adopt these new lending products.

Mortgage

Long judicial foreclosure timelines challenge investors

The longer the timeline, the greater the risk

Investors in residential mortgage-backed securities will see increased carrying costs in the near future as servicers experience longer foreclosure timelines in key judicial foreclosure states, Moody’s (MCO) alleges in its latest Servicer Dashboard report.

It’s no secret that judicial foreclosure states like New York and  New Jersey are facing longer foreclosure timelines and a backlog of properties that still need to be moved through the system.

The impact of this is not lost on RMBS investors, and it doesn’t appear to be subsiding as fast as investors would like it to.

"Timelines for pending foreclosure inventory remain significantly longer than those for completed foreclosures, which means foreclosure timelines will continue to increase," said Bill Fricke, a Moody’s senior vice president. "Some servicers, however, have brought down the average age of the loans in their pending foreclosure inventory, meaning that the rate of increase in foreclosure timelines should start to slow."

But on a servicer-by-servicer basis, Moody’s says GMAC was the only servicer with a current-to-worse roll rate in the first quarter for all loan product times. The ratings firm put the blame on “conflicting priorities,” including the transfer of GSE loans to Walter Management Corp (WAC). Not to mention, the ongoing integration of staff and systems at Ocwen (OCN) and overall uncertainty about operations, Moody’s claims.

As of today, New York, New Jersey and Florida remain overwhelmed by the sheer volume of foreclosure cases pending.

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