Servicing

Record lending drove a top-line gain on the year but one-time costs from reverse mortgage servicing sales and negative fair value changes hurt the bottom line.

The move is aimed at bringing additional mortgage servicing rights and investment expertise to the technology company and its capital markets division.

The lender's loss shrank to $6.6 million, but a rate-driven servicing valuation gain drove much of it as adjusted losses widened annually.

Mortgage servicers would like to shed responsibility for second liens but they may be exchanging one set of workflows for others.

The merger was supposed to close on Aug. 3, but an approval was not received in time, although regulatory certainty was a selling point of the CrossCountry bid.

In line with broader trends, the GSEs have been putting new limitations on forbearance and putting more of an emphasis on mods.

The mortgage technology unit of Intercontinental Exchange reported a return to profitability in the second quarter, as revenues continued their recent rise.

Properties outside flood zones carry outsized risk without insurance but client education and proactive solicitation before a storm can decrease serious delinquencies.

Earlier in the day, the company confirmed it made staffing reductions as it aligns its cost structure with its technology investments to help operations.

The approvals expand BSI's ability to support Ginnie Mae-backed digital mortgage assets across securitization and servicing, the company said.