Servicing

The government-sponsored enterprise has already done twice as many of these deals as it did during all of 2021.

Servicing gains failed to offset steep origination declines at the bank, which continues to battle allegations of racial discrimination.

The gain on sale from first quarter originations increased as the bank shifted more volume share to the higher-margin channel.

But it was the second-most successful year ever for IMB originations since the Mortgage Bankers Association began collecting this data in 2008.

The Eleventh Circuit Court of Appeal split hairs and said each allegation must be examined to see whether it was not covered by the National Mortgage Settlement.

The Consumer Financial Protection Bureau argues borrowers in the case had a right to answers even if the inquiries were origination related and foreclosure litigation was pending.

The new futures contracts can be used to mitigate risk on both the origination pipeline and the mortgage servicing portfolio.

More than half of the seriously delinquent mortgages that did not have this type of payment relief were originated prior to ability-to-repay requirements enacted following the Great Recession, the latest Federal Reserve Bank of Philadelphia study found.

While smaller in number, initiated foreclosures had a similar consecutive-quarter gain as the market transitioned away from pandemic-related relief that has artificially constrained workout activity.

The two latest transactions follow in the wake of the government-sponsored enterprise’s first deal of the year and the release of a finalized capital rule aimed at facilitating broader risk-sharing.