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Consumer-first lifetime retention is now our prevailing theme in servicing, which increases both MSR values and lifetime customer value. But how can servicers convert “customer for life” from theory to practice?

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Stakeholders are divided over whether, in light of proposed changes to its capital rule, the FHFA should retool its agreement with the U.S. Treasury and remove policies some say never belonged there in the first place.

Back to the Future of Mortgage Lending

This webinar will discuss what’s to come in the future of mortgage lending by analyzing past trends in the industry, evolving consumer behaviors and demographics of the industry’s production capacity.

HomeLight’s Vanessa Famulener on the future of cash offers

Today’s episode of HousingWire Daily continues our Women of Influence series and features an interview with Vanessa Famulener, the president of homes at HomeLight.

Mortgage

CitiMortgage exits mortgage servicing business

Nationstar anticipates subservicing up to $97 billion

Nationstar Mortgage Holdings announced today that it entered into a subservicing agreement with New Residential Mortgage, a wholly owned subsidiary of New Residential Investment, a leading investor in mortgage servicing related assets.

Nationstar anticipates subservicing up to $97 billion UPB mortgage loans underlying the mortgage servicing rights that New Residential agreed to purchase from CitiMortgage.

Several reports say this will end mortgage servicing for Citi. Further, these mortgages are backed by Fannie Mae and Freddie Mac. As such, the deal will require approval from the regulator, the Federal Housing Finance Agency.

"This announcement further demonstrates Nationstar’s role as a leading subservicing provider to the residential mortgage servicing market. We look forward to welcoming over 750,000 customers to Nationstar, and believe our strategic relationship with New Residential will create meaningful value for these customers and our shareholders,” said Jay Bray, Chairman and Chief Executive Officer of Nationstar, said in a statement.

Nationstar expects the MSRs to board beginning in the second quarter of this year and continue boarding throughout 2017. 

The announcement is in lockstep with the big bank gradually exiting the mortgage business.

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