Servicing

The company’s servicing operations also reported a quarterly profit, with its portfolio increasing by 20% annually.

The decline in late payments recorded in a trade group survey raise hope that many servicers will bear up under a wave of tighter enforcement coming from regulators.

Mortgage defaults, bank repossessions and auctions rose for the third month in a row, according to Attom Data Solutions.

The number of plans is less than one-fourth of what it was at its pandemic peak, and many are expiring, so the group will replace the weekly measure with a monthly one.

The company’s gains, which far exceeded analysts’ expectations, were partially offset by thinner production margins.

The company’s six acquisitions since last March will contribute to increased revenue in both of its software and data and analytics segments.

A greater share of the company's future earnings are likely to come from servicing as rates rise, Chief Operating Officer Andy Chang said.

Valon Technologies Inc., a startup that operates a digital mortgage-servicing platform, raised $43.9 million in equity funding from investors including affiliates of Starwood Capital Group and Freedom Mortgage.

After closing its merger with Caliber, the company also hopes to pare down expenses by at least 10%.

Last week, the world of mortgage servicing got an unpleasant surprise. Cenlar FSB, the nation’s largest subservicer of residential mortgages, was hit with a consent order by the Office of the Comptroller of the Currency alleging “unsafe and unsound” banking practices.