Servicing

Serious delinquency transitions in older mortgages inched up, hinting at the impact of an FHA rule change's impact in conjunction with other stressors.

The announcement comes following an Institutional Shareholder Services report which urges shareholders to vote no on the CrossCountry Mortgage transaction.

Two other nonbank mortgage firms also recently got in position to raise capital while NVR, a builder and lender, added new authorization for share repurchases.

While those electing cash could receive $12.50 per share, UWM's all-stock alternative remains unchanged from the company's initial agreement for Two Harbors.

The opinion that supports national banks' ability to avoid paying interest on certain mortgage accounts in New York is unlikely to be the last word.

The latest offer, 70 cents per share higher than previously agreed to, equals the cash proposal made by UWM Holdings to win over Two Harbors' shareholders.

Rocket Cos. fell just $200 million short of United Wholesale Mortgage in Q1, as servicing recapture from its massive MSR portfolio fueled $44.7B in closed loan volume.

The buyer will add around 800,000 loans to its hefty servicing portfolio, while Valon said it will shift away from servicing to focus on technology.

The share of seriously underwater homeowners also grew in 45 states compared to a year ago, with the South Central region most affected, according to Attom.

A rule change requiring trial modifications before other loss-mitigation options is creating workflow and liquidity challenges, especially for smaller servicers without deep resources.