Servicing

Average scores remain unchanged but signs of payment stress keep emerging, with Fannie Mae's serious delinquency rate up for the first time since August 2020.

Alanna McCargo, president of the housing agency, is fulfilling her pledge to halve the waiting time for reperforming loans.

The new automation integrates with the company's customer-facing Servicing Digital software, and is aimed at helping consumers find temporary assistance with payment hardships.

But late borrower payments slightly grew in November, with 18 metro areas reporting an increase, up from six metro areas in October, CoreLogic's report found.

Mortgage prepayment rates also fell to a new low for the third consecutive month in December, according to Black Knight.

Foreclosure prevention actions overall fell for the sixth time in seven months in October, according to the FHFA.

The share of loans with suspended payments remained steady as 2022 ended, but that could change this year if unemployment increases in line with forecasts, according to the Mortgage Bankers Association.

A panel discussion with executives from Boston Consulting Group reinforced the view that regulators will allow the deal to proceed, Keefe, Bruyette & Woods said.

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.