Servicing

Privately securitized mortgages made by these institutions have already exceeded 2021 levels, however some of the collateral lacks income verification, according to a new KBRA report.

Mortgage companies selling loans to the government-sponsored enterprise will be able to use the information for one type of employment check as well as to validate income and assets.

Pingora Loan Servicing still hasn’t disclosed the full scope of last fall’s hack impacting at least 169,000 customers across four states.

Depository originators lose 68 cents per $1 more than their nondepository competitors.

The move supports strong gains coming in from this side of the business, which helped the company return to profitability in the third quarter.

While first-quarter profits were up considerably, CEO Michael Nierenberg said the company will offer more products to counter market conditions that are “only going to get worse.”

Fair value increases on existing business and an accounting change made for troubled debt restructurings likely explain why its results contrasted those of competitor Freddie Mac.

While the government-sponsored enterprise’s single-family mortgages are still not performing as well as they did before the pandemic, the most recent vintages are getting there.

While the lender-servicer reported robust Q1 earnings, it is anticipating lower future revenue due to the tight originations environment.

Strong general unemployment gains, student loan deferrals and borrowers enjoying low interest rates secured in the refinance boom contributed to the positive gains.