Servicing

The Lansing, Michigan-based firm was awarded the contract this spring and takes over from Novad Management Consulting, which had previously serviced government-held HECMs since 2014.

The tool, which includes overlays for industry metrics like delinquencies, could be helpful to policymakers trying to size up the cost of natural disasters affecting properties.

Despite a large annual increase, new foreclosure starts are still only near 80% of pre-pandemic levels.

The products are currently limited to a single distribution channel, but the company hasn't ruled out offering them through third-party originators in the future.

Forbearance could be used regularly to address a broader range of hardships, but how expansive that range should be is subject to debate.

Higher inflation and mortgage rates led to the increased likelihood that conforming loans originated in the three months ended Sept. 30 would go 180 or more days delinquent, Milliman found.

Home prices dropped again on a monthly basis in October, exacerbating the loss in home equity among recent buyers, but the size of the falloff was the smallest since June.

The company is in the final stages of its exit from this part of the MSR market.

The pushback the government insurer faced over the revised standards led it to delay deadline for implementation by a full year, to December 31, 2024

Measures related to how interchangeable their mortgage-backed securities are have drawn more focus since July when the Federal Housing Finance Agency added a fee that some fear could upset the balance.