Servicing

Chairman and CEO of Pennymac, David Spector, said the one-time cost will allow the company to retain ownership of a proprietary system that could build value for investors.

Some large Fannie Mae and Freddie Mac portfolios have gone to market recently and an unusual Ginnie Mae multifamily and healthcare package is up for sale too.

The net proceeds will be used to pay down borrowings on a credit line secured by its mortgage servicing portfolio.

Two Harbors, which also reported a gain in comprehensive income, recently completed an acquisition that made it the eighth largest conventional servicer.

Loan criteria such as credit scores, loan types and loan-to-value ratios are all weaker than those included in 2022 deals, Fitch said.

Slightly more than one-fourth of borrowers with it experienced pandemic-related challenges, the Mortgage Bankers Association found.

The prepayment metric on the single-family issuer operational performance profile had been displaying outdated information.

The number of homeowners spending more than 30% of income on housing costs jumped 18% from pre-pandemic 2019, according to a new Harvard analysis.

Marshall is handing his role as president at the mortgage firm to another industry veteran but plans to retain some involvement with its new MSR fund.

A common concern in housing finance reactions has been the lack of accommodation for strategies routinely used to manage credit, rate and liquidity exposures.