Servicing

A report by Black Knight shows still-increasing home prices, which is bad news for prospective buyers, but good news for existing homeowners, who are gaining equity.

Repossessions registered both monthly and annual increases, though, according to Attom.

The privately held company added a retail branch network and a $10 billion servicing portfolio — and is looking for more.

But its operating income missed estimates with servicing income and gain-on-sale margins coming in lower than expected.

The lender and servicer posted its highest pull-through weighted gain-on-sale margin in almost two years while recording modest production growth.

HPC and the MBA called on John Bell, executive director at the agency, to disclose a blueprint of the VASP program and allow for a 30-day commentary period.

Negotiations are ongoing, but the legal move ends the restraining order trial in federal court scheduled for Aug. 14.

The turnaround was due to a $42 million positive servicing mark. Even with the operating loss, it beat estimates.

A second quarter profit followed two fiscal periods in the red, but the firm had to overcome a $33 million negative mortgage-servicing rights valuation.

But its mortgage business remains a money loser, and it wasn't a great period for the acquisition target either.