Servicing

The government agency is also allowing the use of certain alternative audit procedures to continue.

Far bigger transactions were rumored to be brewing in line with megabank Wells Fargo's recent announcement it'll be reducing its portfolio.

For those willing to experiment with the strategy, it could be a long-term differentiator.

One product aims to make it easier to customize connections with consumers, another helps with vendor management and a third helps size up collateral.

Analysts questioned whether the reductions could have a negative impact in terms of scale, but executives said the move has financial advantages — more so than its correspondent exit.

Marianne Sullivan will be charged with overseeing the start of the second phase in a multi-year plan to develop cloud native technology at the servicing software company.

The measure enacted on Dec. 30, 2022 applies retroactively and could add servicing risks that lending divisions will likely consider in underwriting and pricing on new loans originated in the state.

The shift opens the door for regional banks to increase their aggregation activities, analysts said.

But the numbers still generally remain below pre-pandemic levels, according to Attom.

The transactions, combined with news Wells Fargo will be shedding some mortgage servicing rights, add to indications that prices for investors may be more favorable this year.