Servicing

The government-sponsored enterprise expects a "moderate recession" in the first half of 2023.

Median expected growth in household income declined 1.3 percentage point to 3.3% in the January survey, the largest monthly drop in data going back almost ten years, the New York Fed found in a report released Monday.

Executives at the company said building special-servicing capacity will help the company brace itself for a potential change in the credit cycle.

If he really wants to win reelection in 2024, President Biden and his administration should leave the mortgage industry in peace and find somebody else to torment, the Chairman of Whalen Global Advisors writes.

The company, which recorded positive comprehensive income based on unrealized RMBS gains, sees potential buying opportunities in bulk mortgage-servicing rights amid a wave of sales by Wells Fargo and others.

The company's mortgage operations posted a $24 million pretax profit thanks to servicing, while loan production saw a loss.

The publicly traded acquirer is looking to grow market share by selectively purchasing companies to beef up its influence in certain regions.

More incentives are coming for servicers as a greater number of distressed borrowers get expanded access to more affordable, streamlined modifications.

Servicing was strong relative to some analysts' estimates, but thin margins and higher-than-expected expenses in originations reduced earnings for the fiscal period.

The Keystone State's housing finance agency will take over distribution of the federal aid following news reports that alleged the response times of the vendor handling payments have been excessively slow.