Servicing

The top five subservicers that are depositories had a combined unpaid principal balance of more than $1.8 trillion at the end of Q4 2023.

Insurers had already doled out more than $12 billion to pay for wildfire damages as of early March, according to California state officials.

If mortgage rates drop into the low 6% range, there will be a retention opportunity on 5.4 million loans that have interest rates starting at 6.5%.

Republican lawmakers, mulling a new partial claim proposal, slammed the expiring program that has purchased thousands of mortgages as Biden-era overreach.

The megaservicer is fending off a class-action lawsuit while suing its insurers for allegedly failing to indemnify it following its breach in 2023.

The systematic miscalculations diverted thousands of dollars from people who fell behind on loans, said documents filed in federal court in Brooklyn.

UWM, embroiled in an us-or-them feud when it comes to business partners working with Rocket, terminated its subservicing and sales deals with Mr. Cooper.

Regulators should approve the deal because post-merger, the servicing market remains fragmented and the mortgage origination business is even more dispersed.

Publicly traded lenders, including UWM, Rocket Mortgage and Guild Mortgage, saw personnel expenses increase significantly throughout last year.

The measure applies to mortgages closed in the months prior to the Southern California wildfires, which are now experiencing early-stage distress.