Servicing

The end of VA foreclosure moratorium is behind a rise in auctions, but bidder hesitancy suggests home prices could fall further.

Mr. Cooper's Q2 profit surged on servicing gains, despite missing estimates, as it preps for Rocket deal and eyes MSR growth with new client wins.

A "large institutional investor" will provide funding to assist Rithm in acquiring as much as $1.5 billion worth of residential transition loans.

The company has agreed to sell the MSRs on Aug. 1. Its merger with Mechanics Bank is set to close during the third quarter of this year.

While foreclosure numbers in the first six months of this year were up compared to 2024, starts eased as the spring progressed, according to Attom.

The confidential agreement comes two years after a federal jury awarded the subservicer $22.6 million in damages in a case with numerous competing claims.

The VA Home Loan Program Reform Act arrives after the expiration of a previous foreclosure-prevention program sent foreclosure numbers spiking this spring.

Gain on sale at JPMorgan Chase fell by 5 basis points in the second quarter, which could be a slightly adverse sign for mortgage banker results, KBW said.

Calls for foreclosure prevention advice jumped upward by almost 30% from a year ago and helped fuel overall consumer distress levels to a five-year high.

The government-sponsored enterprise has reportedly added a new vendor to a test in which it buys certain loans without title insurance or attorney opinion letters.