MSR

Ocwen Financial is receiving a lump-sum payment of $280 million from New Residential under the latest restructuring of the mortgage servicing rights sale.

Bank of America's mortgage banking business reported a loss for the fourth quarter driven largely by representations and warrants provisions.

Citigroup's fourth-quarter residential mortgage banking revenue was 22% lower from the previous year because the company sold the vast majority of its servicing rights.

JPMorgan Chase reported lower mortgage banking revenue in the fourth quarter as the returns from its servicing business declined from the previous year.

Situs agreed Friday to buy mortgage servicing rights valuation and brokerage firm MountainView Financial Solutions in a deal set to close this month.

MountainView is brokering a nonrecourse $3.5 billion package of Fannie Mae and Freddie Mac mortgage servicing rights on behalf of an unnamed seller.

The largest residential mortgage servicers will get even larger in 2018, benefiting from consolidation and the outsourcing of servicing rights acquired by companies without their own platforms.

New Residential Investment Corp. is planning to purchase Shellpoint Partners in the first half of next year for $190 million with an additional earn-out over the next three years.

The Senate tax reform proposal could force servicers to pay tax upfront on income that is currently tax deferred, according to the Mortgage Bankers Association and the Consumer Mortgage Coalition.

The impending bankruptcy of Walter Investment Management Corp. should not affect its subsidiary Ditech Financial's capability to service securitized mortgages, Fitch Ratings said.