Servicing

The servicing segment's pretax income was almost 80% higher than the fourth quarter, offsetting a more than 90% decline for the production business.

The move supports strong gains coming in from this side of the business, which helped the company return to profitability in the third quarter.

The legislation, awaiting the governor’s signature, overturns a state court ruling that made it easier for lenders to restart the six-year statute of limitations timeline.

The government-sponsored enterprise on Tuesday priced its fifth Connecticut Avenue Securities transaction this year, making further progress in supporting the market it left during the Trump era.

While first-quarter profits were up considerably, CEO Michael Nierenberg said the company will offer more products to counter market conditions that are “only going to get worse.”

Fair value increases on existing business and an accounting change made for troubled debt restructurings likely explain why its results contrasted those of competitor Freddie Mac.

While the government-sponsored enterprise’s single-family mortgages are still not performing as well as they did before the pandemic, the most recent vintages are getting there.

While the lender-servicer reported robust Q1 earnings, it is anticipating lower future revenue due to the tight originations environment.

Improved loan performance, a credit reserve release, higher g-fees and reduced portfolio runoff helped to offset declining single-family loan purchases.

Some Fannie Mae and Freddie Mac packages are attracting offers in the mid-5 times range, MIAC Analytics said.