Servicing

As part of its breakup fee, the Old Greenwich, Connecticut REIT will come away with an over 6% interest in its New York counterpart.

More than half the amount the Treasury handed down to the states got to recipients even with delays in jurisdictions like Pennsylvania.

While on the positive side, Fannie Mae CEO Priscilla Almodovar said the loan defect rate has dropped 75%, she and Freddie Mac President Michael Hutchins noted that they're closely examining disruptive servicing transfers and standards for multifamily properties.

The servicer said it entered into the consent order "without admitting any wrongdoing, to avoid the expense and distraction of litigation."

The top five banks have a combined mortgage servicing volume of more than $27 billion at the end of Q2 2023.

Not only could warehouse lines of credit be impacted by the U.S. version of international Basel rules, and financing secured by mortgage servicing rights may be, too.

The Department of Housing and Urban Development affiliate is making it easier to repackage securities backed exclusively by these mortgages.

Numbers the Federal Housing Finance Agency just reported for 2022 were the third lowest since the program began, and this year's probably won't be high either.

The shape it takes could have implications for how Fannie Mae and Freddie Mac price loans for nonbanks and depositories.

One in every 123 purchase applications showed indications of fraud in the second quarter, outpacing the first, the report found.