Servicing

A provision in the original Senate tax reform bill would have required companies acquiring mortgage servicing rights to pay taxes upfront for their anticipated servicing income.

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 vast majority of default servicing professionals are investing in "significant" REO property improvements to increase resale values in a hot housing market.

Impac Mortgage Holdings' nonqualified mortgage origination volume increased 248% year-over-year in the third quarter as the company accumulates loans for a planned securitization next year.

The loans are part of a €1.8 billion bad-loan purchase that Mars Capital, an Oaktree "vulture fund," made of high-risk mortgages from Irish banking authorities in 2014.

New Residential Investment Corp. may seek to accelerate the process of transferring more than $100 billion in mortgage servicing rights it agreed to buy from Ocwen for $400 million.

Credit Suisse's plan for consumer relief in a multibillion-dollar Department of Justice settlement related to residential mortgage-backed securities could reduce the costs involved, according to the settlement monitor's first report.

Nearly 1.4 million residential properties were vacant as of the end of the third quarter, representing 1.58% of all U.S. residential properties, according to Attom Data Solutions.

Ocwen Financial Corp. is settling allegations by Alabama and Minnesota that it engaged in improper mortgage activities, bringing the total of states it has settled with to 17.

JPMorgan Chase reported a rise in value of its mortgage servicing rights despite lower originations in this year's third quarter.

Select Portfolio Servicing grew its mortgage servicing rights portfolio by over 14% in the second quarter by targeting opportunities in the nonagency loan market.

Ocwen Financial Corp. received more breathing room on the legal front as the Securities and Exchange Commission is not pursuing an enforcement action against the company regarding its debt collection practices.

Vandy Fartaj, the firm’s chief capital markets officer, says a novel deal structure allows the real estate investment trust to issue additional term notes its portfolio of mortgage servicing rights grows.

The portfolio of conforming loans is currently being subserviced by Nationstar Mortgage Holdings on behalf of Seneca Mortgage Investments.

The transaction would be the third under Freddie's Seasoned Loan Structured Transaction (SLST) program.

The average home value backing the loans is $117,000, well below the average $150,000 of other recent RPL securitizations, according to Fitch Ratings.

Fannie Mae and Freddie Mac will adjust their risk-sharing deals so that they can accommodate high loan-to-value loans refinanced under the programs replacing the Home Affordable Refinance Program.

Fannie Mae chose three winning bidders for its 10th nonperforming loan sale, which consisted of 3,400 loans with an unpaid principal balance of $581 million.