Servicing

Insurers and Uncle Sam are having trouble footing bills for mounting climate-related risks, particularly in regions prone to hurricanes and wildfires.

The Federal Housing Finance Agency wants to change some of the government-sponsored enterprises' targets in ways that could create more low-income rental units as higher costs squeeze tenants.

Pandemic-related payment suspensions dropped notably for loans held in bank portfolios and private-label securities, but numbers for large government-related markets leveled off, according to the Mortgage Bankers Association.

Payment for the whole loan and servicing-rights trading platform will be a mix of cash and stock, with the price and closing of the deal subject to certain contingencies.

Recent reports highlight the question of how much wage growth can do to sustain loan performance as pandemic relief gets rolled back, consumer costs rise and the housing market cools.

The company and its portfolio manager Ashish Negandhi, who was also penalized, allegedly misinformed investors about delinquency rates in a 2018 fix-and-flip securitization.

The lending and servicing giant is also amping up cost-saving efforts with more layoffs after reporting a net loss of $223.8 million in the second quarter.

Mortgage companies will need to obtain and maintain relevant data on loans starting in March of next year even if they are only handling payment-related activity, according to the Federal Housing Finance Agency.

The new leaders named at the company highlight what appears to be some heavy recruiting from the ranks of executives who previously worked for a government-sponsored enterprise or a GSE joint venture.

A few studies released Tuesday add to expectations that the small number of mortgages remaining in forbearance will contribute to a higher foreclosure rate in the future.