Servicing

Numbers fell across all investor types, but exits hit their slowest pace since August.

The move by the agency, which is an arm of the Department of Housing and Urban Development, will help further efforts to give servicers more leeway to modify mortgage terms.

Numbers decreased across all loan types, with the largest decline among GSE-backed mortgages.

Mortgage servicing rights can look more attractive to originators as they become increasingly interested in building their customer base, but some may want to sell due to thinner margins or regulatory uncertainty.

James Campbell joins a bank whose mortgage operations generated $178 million in third-quarter revenue.

The company sees an opportunity as its competitors have to sell to make up for lost income due to tighter origination margins.

Numbers have fallen on a consecutive quarter and 12-month basis in half of all states but are likely to increase following the gradual end to the federal foreclosure ban, according to Attom Data Solutions.

The increased complexity of loss mitigation in the wake of the pandemic has increasingly prompted a growing number of mid-sized players to outsource, so constraints on one player could affect others.

The agency said the risk management program for Cenlar FSB, which performs servicing functions for financial institution clients, was inadequate for the bank's size.

To avoid a crisis similar to in 2008, protection needs to be in place for the mortgage industry. Soon, flood insurance will need to be standard for almost all coastal areas, which will be a considerable cost, writes the CEO of Repair Pricer.