Servicing

The seasonally adjusted decline was in line with a low unemployment rate, but that could change later this year, according to the Mortgage Bankers Association.

The Dallas-based lender will assume close to $1.1 billion of conventional mortgage servicing rights, roughly $600 million in tangible equity and $500 million in outstanding Home Point 5% senior notes.

On a non-GAAP basis, the company reported better results on a year-over-year basis, Chairman, President and CEO Mat Ishbia said.

The country's third-largest originator saw revenue tick up in the first quarter off of higher servicing income and more pull-through weighted rate lock volume from lower average interest rates, it said.

The bill would provide up to 18 months of relief to homeowners still financially impacted from the storm and would apply retroactively to payments missed since September 2021.

The offering comes amid an ongoing wave of private and public MSR sales.

Plaintiffs could amend certain allegations related to the bank suspending some payments without permission, but the judge dismissed others outright.

Management provided upbeat commentary both about the period and how the second quarter is progressing.

The Department of Housing and Urban Development's report from its inspector general calls for clarity around the government guarantors rapid relocation extinguishment processes.

In a quarterly earnings call, CEO Michael Nierenberg said the company was evaluating options and would likely file forms for a new public company in the near future.