Servicing

The portfolio is one of several particularly large, recent deals related to the cash-flows from mortgage payments, but it has an unusual composition.

Recent reports by Standard & Poor’s, Experian and an industry trade group show changes in loan performance and credit over the course of the past month.

Current president Joe Nackashi will become CEO in place of Anthony Jabbour who will be taking the role of executive chairman.

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.