MSR

Weeks after Rocket Cos. launched its own IPO, the wholesaler is merging with a special-purpose acquisition company in a deal that values it at over $16 billion.

The only rational strategy for holding MSRs is to be very aggressive on protecting the servicing assets via loan recapture. This is one of the chief reasons that banks have been willing to give up their share in lending and servicing as they collapse back to retail-only lending strategies.

Only 18% of refinance borrowers returned to the same lender in the second quarter, the second lowest rate since 2005.

The post was vacant since Kristy Fercho left to run Wells Fargo Home Loans in July.

Nearly half of the second-quarter volume came from its existing customers.

If it makes landfall as a Category 3 storm as was initially projected, damage from Hurricane Laura's surge could potentially devastate 432,810 residential properties in Texas and Louisiana, according to CoreLogic.

Freedom Mortgage's acquisition of RoundPoint Mortgage Servicing gives it a MSR portfolio of over $300 billion.

The number of loans going into coronavirus-related forbearance decreased for the ninth consecutive week, according to the Mortgage Bankers Association.

Its stock price, which slid since day two of trading, opened 10% on the earnings news.

The number of loans going into coronavirus-related forbearance was down for the eighth consecutive week, as the growth rate fell 23 basis points between July 27 and August 2, according to the Mortgage Bankers Association.

The company's Dun & Bradstreet investment reduced its results by $31 million.

The company reported nearly $23 million in losses for the second quarter, but that was an improvement on a quarter-to-quarter basis.

The mortgage servicing rights package going up for bid adds to signs that the market for large offerings is becoming more active.

The number of loans going into coronavirus-related forbearance fell for the seventh straight week, but the Mortgage Bankers Association predicts the rate will increase if the number of coronavirus cases continues to rise.

The company's servicing segment recorded a pretax loss of $251 million over the period.

Even with the second quarter's market disruption, Redwood Trust still regained profitability.

The company's second-quarter net income was $116 million, with mortgage banking revenue of $239 million.

The number of loans going into coronavirus-related forbearance dropped for the sixth consecutive week, as the growth rate fell 6 basis points between July 13 and July 19, according to the Mortgage Bankers Association.

The company lost $8.9 million in the second quarter, but its origination and servicing businesses were profitable.

The number of loans going into coronavirus-related forbearance dropped for the fifth straight week, as the growth rate plummeted 38 basis points between July 6 and July 12, according to the Mortgage Bankers Association.