Servicing

The bank's second quarter production revenue was down 32% from the first quarter, even as volume increased 4%.

The Mortgage Bankers Association is advocating for more funding for the agency due to its elevated securitization activity, and counterparty risk linked to a lingering concentration of loans in forbearance.

The sharp decline suggests borrowers are recovering enough from pandemic-related hardships to leave forbearance plans even before a key expiration date arrives this fall.

The defendant faces seven criminal counts — ranging from stolen property to falsifying business records — for two Harlem brownstones he paid just $20 for in 2012, according to tax filings.

Identifying where payment stress is concentrated could help mortgage servicers and federal policymakers prepare for the broader range of loan workouts that will resume this summer.

The company has seen business ramp up as servicers have sought additional help managing escrowed funds following last year’s refi boom.

Rebounding employment brought total forborne mortgages under 2 million, according to the Mortgage Bankers Association.

The $16 billion Champion Mortgage portfolio sale follows Ocwen Financial’s purchase of different assets from MAM a few weeks prior.

The number of GSE-backed and government sponsored loans in forbearance declined, while portfolio and private-label loans increased.

Estimates suggest public funds in aggregate may be adequate to cover arrears and potentially keep many in their homes as the eviction ban ends, but may not be evenly distributed.