Servicing

The company wants to redeploy resources into the wholesale mortgage channel that accounts for three-quarters of its production volume.

Real-estate owned, auction and default activity tracked by Attom have rebounded slightly, but the latest Mortgage Bankers Association’s number for late payments show they’re still very near or at historic lows.

The companies plan to collaborate on the development of a cloud-native servicing platform, which could result in a stronger competitor to dominant player Black Knight in the marketplace.

The Second Circuit decision in Naimoli v. Ocwen Loan Servicing takes away contract rights that financial institutions rely on for market stability, write litigators Chucta and Swanson.

The return of foreclosures could increase enforcement and government-related loan buyers’ return to pre-pandemic plans to increase net worth, liquidity and other standards for counterparties.

The large volume of servicing rights trades in January and high multiples were a reaction to tightening monetary policy after a period in which many stockpiled the asset.

The company said it would increase efforts in non-QM lending and dropped hints about further acquisitions.

The Lansing, Michigan-based company will handle the required functions on recently originated loans until they are sold in the secondary market.

An uptick in pandemic-related payment suspensions reflecting new or restarted plan activity previously occurred as the omicron variant spread, but activity has since subsided.

Pretax income in the servicing segment outpaced its loan production unit in the fourth quarter, as the company launches new branding initiatives.