Items Tagged with 'Mortgage servicing rights'

ARTICLES

  • [Pulse] With mortgage rates and bond yields low, is it time to retain mortgage servicing?

    Former MBA CEO David Stevens on the impact of falling rates on MSRs
    Mortgage rates and bond yields have plummeted recently. As a result, the economics of mortgage lending have shifted. In this guest contribution, former MBA CEO David Stevens asks whether the time is right for lenders to consider retaining the mortgage servicing rights on their loans.
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  • HomeStreet selling off majority of mortgage business to Homebridge, New Residential, PennyMac

    Origination business going to Homebridge; MSRs to New Res, PennyMac
    HomeStreet Bank's move away from mortgages is nearly complete. Earlier this year, HomeStreet announced that it was planning to shift its business away from mortgages by selling off its retail mortgage origination business and a big chunk of its mortgage servicing rights. Now, the bank has found buyers for its mortgage business: Homebridge Financial Services, New Residential Mortgage, and PennyMac.
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  • HomeStreet to sell a piece of its mortgage servicing portfolio

    Bank will sell $5B of its single-family MSRs to Matrix Financial
    Seattle bank HomeStreet announced this week it will sell a piece of its mortgage servicing rights to Matrix Financial Services. The deal, which includes an unpaid principal balance of $4.9 billion in single-family MSRs, amounts to approximately 20% of the bank’s single-family servicing portfolio.
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  • Ocwen settles with Maryland, but settlement carries stiffer penalties than previous states

    Fined $500,000, must provide $273,500 to borrowers, and more
    In the last several months, Ocwen reached settlements with nearly every one of the 31 states that took regulatory actions against the nonbank last year over alleged escrow and other mortgage servicing issues. Ocwen continued that settlement streak this week, reaching a settlement with Maryland, but while many of the previous settlements carried similar terms, the Maryland settlement goes even further and carries stiffer penalties.
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  • Ocwen reaches mortgage settlements with two more states, inks new deal with New Residential

    SEC filing reveals cavalcade of news about nonbank
    Ocwen disclosed Friday that it reached a settlement with two more of the 31 states that took regulatory actions against the nonbank last year over alleged escrow and other servicing issues. But that wasn’t the only interesting item that Ocwen disclosed in its latest SEC filing.
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  • Situs acquiring MountainView Financial Solutions

    Acquisition “puts Situs at the nexus of real estate and fintech”
    Situs, a premier provider of strategic business and technology solutions to the real estate industry, announced late in the week that it plans to acquire MountainView Financial Solutions.
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  • S&P: Impact of CFPB shakeup, deregulation will be limited for mortgage servicers

    Trump administration’s changes will not undo years of heavy regulation
    Given the Trump administration’s stated mission of decreasing regulations, it’s a fairly safe bet that whoever Trump picks as CFPB director will have a vastly different view of regulation than former director Richard Cordray did. But what will the impact of that looming deregulation have on mortgage servicers? Not very much, according to a recent report from S&P Global Ratings.
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  • Ocwen settlement-palooza sees $36 million going out, $30 million coming back in

    Reaches settlement with CIT Bank, additional settlement on restated financials
    It’s been a year of settlements for Ocwen Financial and Monday saw more of the same. On Monday, Ocwen disclosed that it reached an additional settlement with investors related to the company’s previously restated earnings, and a settlement with CIT Bank over a 2013 mortgage servicing rights deal.
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