Servicing

The measure enacted on Dec. 30, 2022 applies retroactively and could add servicing risks that lending divisions will likely consider in underwriting and pricing on new loans originated in the state.

The shift opens the door for regional banks to increase their aggregation activities, analysts said.

But the numbers still generally remain below pre-pandemic levels, according to Attom.

The transactions, combined with news Wells Fargo will be shedding some mortgage servicing rights, add to indications that prices for investors may be more favorable this year.

Among its major accomplishments in the past year were an update to its Reference Model, the foundation for most of its standards.

MSR trading is picking up a little from its seasonal lull but values may not get as high as they did last year, some experts say.

Other investors could step into the breach as depositories depart, and the strain on nonconforming borrowers might not be that bad, recent forecasts suggest.

Claims from a more recent storm that caused some overlapping property damage are also mounting, according to the Federal Emergency Management Agency.

The government bond insurer, an arm of the Department of Housing and Urban Development, confirmed no borrowers were impacted by the transfer of servicing from the bankrupt Reverse Mortgage Funding.

The servicer is alleged to have violated state regulations between 2016 and 2020 affecting 57 homeowners with federally backed loans.