Servicing

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.

This regulatory development is both good news and bad news, depending upon where you happen to sit in the mortgage process.

The government-sponsored enterprise is following through on resolving some temporary policies put in place to address contingencies around the coronavirus while unwinding others.

The number of credit-sensitive borrowers who request alterations in their loan terms for income reduction could be a bellwether for loan performance as pandemic-related contingencies are rolled back.

While bullish on the future, CEO Anthony Hsieh noted that the company is “doing the necessary work to ensure our operations appropriately reflect our expectations for the changing market."

Three housing finance organizations asked for an interactive process similar to that used previously for originations and said they preferred less reliance on life-of-loan indemnification as a remedy.

While the significant drop in suspended payments overall from the pandemic’s peak suggests many have recovered from related hardships, the uptick points to some new distress.

The borrower sent bogus documents to a settlement company claiming a $111K lien was satisfied to complete a sale.