Servicing

The tests modeled how Fannie Mae and Freddie Mac would fare after absorbing losses like a total $36.1 billion provision in credit losses in a severe downturn.

The since-defunct lender, which was purchased by Newrez in 2021, agreed to pay a $1.8 million penalty and has refunded over $550,000 to borrowers.

While overall performance looks solid, the data shows the weight of economic concerns may be weighing on some borrowers, the Mortgage Bankers Association said.

Fannie Mae has issued guidelines for how mortgage companies should apply temporary buydown funds in workout situations and clarified notification requirements.

Between rising home costs and the end of mortgage relief programs, many homeowners are struggling to stay above water, especially in the South and West.

Whittemore and his team are working to help the company handle both growth and diverse loan types, including non-QM, RPLs and NPLs.

New insurance written at the six private mortgage insurers increased by only 2% year-over-year, a sign of the sluggish home sales market at the low end.

The settlement resolves legacy allegations the state attorney general made about how the company handled mortgages before changing its role.

The tax delinquency rate hit a seven-year high last year with residents of some states seeing amounts owed increasing by more than 50% since 2019.

In the second quarter, the nation's largest originator funded $39.7 billion in mortgages, including $27.3 billion in purchase loans.