Servicing

In order to address contractor pricing issues, the property preservation and management firm is shifting to a self-performing model by opening a national network of regional centers.

While some year-over-year upticks have materialized, the benchmarks reported for September were still generally on par with or below pre-pandemic levels, according to CoreLogic.

As the share of forborne loans increased for the first time in more than two years, servicers are cautiously eyeing data trends but appear equipped to handle storm-related distress.

Two vendors have added non-agency mortgage and co-issue servicing sales respectively, and a government agency has confirmed that it's working on overcoming a hurdle to more scalable eNote use.

A trade group expert called this "sobering news," given that the third quarter is generally the strongest of the year for the industry.

But an executive at the mortgage company's corporate parent feels the agency, which is facing a court challenge to its funding, is engaging in regulatory overreach.

Home prices in many areas have peaked and the equity cushion that has bolstered loan performance is starting to erode, but some think damage will be limited.

The gain of 3 percentage points in 2022 reinforced industry calls for the agency's mortgage insurance premium to be slashed when the current fiscal year federal budgeting process is completed.

The government mortgage-bond insurer's requirements that restrict investor involvement are likely the greatest challenge to finding more purchasers of MSRs, experts said at a servicing conference Monday.

If rights holders have to sell these assets because of the Ginnie Mae capital rule, it will increase rates for lower income consumers.