Servicing

Will more nonbanks enter the mortgage servicing arena in 2013?

Underwriters that are members of the Mortgage Insurance Companies of America wrote $10.1 billion of primary new insurance in September, the group’s third best month of the year.

Total losses in 3Q came to $490 million, up 6% from 3Q11, but down 11% from 2Q12.

Community banks have long been a source of loans that for a variety of reasons do not fit the parameters of Fannie Mae and Freddie Mac programs.

Amy Brandt—best known, perhaps, for her days as CEO of WMC Mortgage, a California nonprime lender—will lead Prospect as it expands into correspondent lending and servicing.

What can be done and who can get involved to balance compliance while maintaining the interest of those who make REO liquidation possible?

Walter Investment Management posted strong servicing results in the third quarter while revealing that it will take control of $50.4 billion of Fannie Mae mortgage servicing rights when the Residential Capital Corp. deal closes.

The decision to delay the implementation date on Basel III capital rules could be a game changer for the residential mortgage servicing business–or maybe not.

Even as it continues to staff up to meet surging demand for refinancings, Bank of America is laying the groundwork for a return to traditional mortgage lending when the refi boom ends.

It appears that the privately held New Penn is positioning itself to be a major player in the jumbo market