Servicing

Minus the adjustment made to account for stock price declines and goodwill, the company’s countercyclical mix of loan products was profitable, but secondary-market volatility presents a challenge ahead.

Fannie Mae and Freddie Mac have used the classic FICO score since 2003.

The transaction highlights the importance of giving the government-sponsored enterprises like Fannie access to a range of risk-sharing alternatives at a time when market volatility reportedly delayed another type of deal.

The company had its best fourth quarter ever for loan production, with purchases making up nearly 45% of that.

Although forbearance exits are not yet complete, two arms of the Department of Housing and Urban Development have decided to make some temporary pandemic relief programs permanent.

Meanwhile, 707,104 mortgages remain in forbearance, accounting for a combined $136 billion in unpaid balances.

But the company turned its first full-year profit since 2013.

The company has been working to improve its bottom-line results by aggressively cutting expenses and repositioning its servicing operation to maximize its profitability, according to CEO Willie Newman.

The number of properties in limbo is up 10.3% from the same time last year, according to Attom Data Solutions.

The New Jersey-specific case could be a sign of how the combined effect of federal debt-collection rules and state regulations may further complicate a compliance-sensitive environment for the industry.