Servicing

When it comes to the future of mortgage securitizations, it's safe to say the entire business is up for grabs, but nowhere is that more apparent than in the market for issuing bonds backed by "nonqualified" residential loans.

Investors overreacted to the fourth quarter loss posted by MGIC Investor Corp., a report from FBR Capital Markets implies.

Mortgage Industry Advisory Corp., New York, is offering for sale a $79 million package of residential servicing rights tied to Fannie Mae MBS.

Gains related to principal investments held by certain consolidated real estate funds contributed to relative improvement in Morgan Stanley’s earnings for the fourth quarter and the full year in 2010.

Appraisal management company StreetLinks LLC, Indianapolis, is introducing what it calls "an innovative approach to procuring and delivering" broker price opinion products to mortgage servicers.

Lower loan sales revenues and fewer originations helped to drive down the earnings posted by PNC Financial Services Group's residential mortgage banking segment from $435 million in 2009 to $275 million for 2010.

Single-family existing home sales jumped by almost 12% in December after rising 6.7% in November to end the year with a "strong finish," according to new figures released by the National Association of Realtors.

The nation's premier mortgage trade group believes the current servicing compensation regime doesn't work anymore and is exploring different options on behalf of the industry.

The advent of Basel III and its effects on MSRs, the difficulty of hedging mortgage servicing rights, and the strain of making advances to investors are all driving the regulatory search for a new way to compensate servicers.

What has largely been an inability to jumpstart new securitization outside of Fannie Mae and Freddie Mac has been a big source of frustration for the financial services industry, a Securities Industry and Financial Markets Association official told attendees at the group’s meeting Tuesday.