Servicing

The mortgage servicing rights package going up for bid adds to signs that the market for large offerings is becoming more active.

The number of loans going into coronavirus-related forbearance fell for the seventh straight week, but the Mortgage Bankers Association predicts the rate will increase if the number of coronavirus cases continues to rise.

The company's servicing segment recorded a pretax loss of $251 million over the period.

Even with the second quarter's market disruption, Redwood Trust still regained profitability.

The combined impact of coronavirus forbearance periods ending while low rates persist means large workloads for title insurers, appraisers and others.

Mortgage industry hiring and new job appointments for the week ending July 31.

While low interest rates drove up new insurance written, the increased defaults stymied overall performance.

The annual survey and ranking of mortgage servicers found that while trust is increasing, borrowers were frustrated with some digital interactions and long wait times with call centers.

But refis bring overall mortgage application fraud risk back to its record low, First American said.

The enhanced jobless benefits in the coronavirus relief law enacted in March helped limit delinquencies and maintain consumer spending, analysts say. In their follow-up stimulus plan, Senate Republicans want to cut those benefits from $600 to $200 a week.