The growing demand in the housing market right now

Geoff Zimpfer and Sarah Wheeler discuss rising home prices, which are now up 15% YoY, and just how hot the housing market is.

FHFA’s Strategic Plan prepares GSEs to leave conservatorship

The FHFA released its strategic plan for fiscal years 2021 – 2024 that aimed to establish new goals for its sanctioned duties moving forward.

The future of title and escrow tech

Heading into 2021, there are many changes in store for the title industry. Join this multi-panel event to get ahead of the curve.

Stacking the deck

Does choosing the right technology stack give your brokerage a competitive edge?

Investments

Lenders, servicers zero in on recapture as refinances soar

NewRez, Quicken and Finance of America emphasize power of retaining servicing

Over the past few months, lenders have recorded record business when it comes to new originations and refinances. New Residential Investment Corp. is using its mortgage business profits to pull the company toward recovery after first and second-quarter losses due to COVID-19 challenges.

Primarily known for its servicing activities, NRIC operates a diversified business with multiple business lines, including NewRez – formerly New Penn Financial, Shellpoint Mortgage Servicing, title and settlement services provider Avenue 365 and eStreet, an appraisal management company. New Residential also made strategic investments in Covius Holdings, a provider of technology-enabled services to the financial services industry, and Guardian Asset Management, a provider of field services and property management.

NRIC’s mortgage banking affiliate, NewRez, funded $8.3 billion of residential loans in the second quarter of 2020, a decrease of 27.2% from last year. To put this in perspective, this represents one of the lowest showings so far among top 40 producers tracked by Inside Mortgage Finance.

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3d rendering of a row of luxury townhouses along a street

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