Contracts, Invoices & Legal

Mortgage servicing rights owners making their plans for 2025 are dealing with additional stress beyond the normal opaque nature of the business, SitusAMC said. View the full article

UWM, embroiled in an us-or-them feud when it comes to business partners working with Rocket, terminated its subservicing and sales deals with Mr. Cooper. View the full article

US mortgage rates jumped last week by the most since October on the back of heightened volatility in the Treasury market, causing a pullback in financing applications for home purchases and refinancing. View the full article

A former COO at Marlin Mortgage claims the servicer transferred an MSR portfolio to a new subservicer not to benefit the investor, but for the gain of the company's CEO. View the full article

Insurers had already doled out more than $12 billion to pay for wildfire damages as of early March, according to California state officials. View the full article

The Senate Banking Committee considered the nomination of Paul Atkins to lead the Securities and Exchange Commission, whose track record on deregulation in the lead up to the 2008 financial crisis was questioned by Democratic lawmakers. Lawmakers also considered the nomination of Jonathan Gould to lead the Office of the Comptroller of the Currency and Luke Pettit for a key bank regulatory role at Treasury. View the full article

Dugan is replacing Rich Gagliano, who is moving to executive chairman after 18 months in charge of the now stand-alone mortgage technology provider. View the full article

The The President administration's appointees have been quick to roll back misguided Biden-era initiatives, writes the Chairman of Whalen Global Advisors. View the full article

The GOP side of the Banking Committee, led by Sen. Tim Scott, asks FHFA head Bill Pulte to "aggressively" reduce waste at the government-sponsored enterprises. View the full article

Industry experts with a reputation for making strong bets offer some picks and predictions for mortgage investment in a volatile market. View the full article

The Buffalo, New York bank's loans edged higher in the first quarter while deposits fell 1.7% from a year ago. The bank also lowered its full-year outlook for loans and deposits. View the full article

Digital Insurance spoke with Jonathan Collura, president and CEO of Specialty Risk RE, about how reinsurers could stabilize the home insurance market in areas affected by natural disasters. View the full article

Recruiting veterans urge originators to track their future employer's pricing for a longer period of time, and to seek more details about the firm's culture. View the full article

US mortgage rates rose again last week, reaching the highest level since mid-February and further depressing the appetite to buy homes or refinance loans. View the full article

Effective March 18, the department is retracting eligibility for non-citizens, it announced. View the full article

Versions of the bill were introduced in the House and Senate, raising odds that a national trigger lead ban could be near. View the full article

The private market is increasingly testing credit metrics aimed at growing originations without adding risk as a larger effort to this end has slowed. View the full article

A National Mortgage News/Snapdocs survey of 100 lenders found 90% use some form of what could be considered a digital closing, up from 74% two-years ago. View the full article

A pullback from US Treasuries sent longer-term yields surging by the most since pandemic struck in 2020, deepening losses in what's supposed to be a haven from financial turmoil and roiling markets abroad as investors sell government bonds to raise cash. View the full article

The head of operations at the Federal Housing Finance Agency and two C-suite leaders at the government-sponsored enterprise are out, according to Semafor. View the full article

After the Federal Reserve moved to slow the pace of quantitative tightening, the Fed chair floated the idea of continuing to allow mortgage-backed securities to roll off its books even after the central bank has met its monetary policy objectives in reducing its balance sheet. View the full article

FHFA director Pulte called these programs inappropriate for regulated entities, which are in government conservatorship, but said others are still able to offer them. View the full article

The subsidiary of Amerant Bank trimmed 58 of its mortgage-related employees, leaving just 20 workers to focus exclusively on Florida-based customers. View the full article

A $24 billion single-family provision for credit losses linked to economic uncertainty and changes in actual and forecast home prices weighed down results. View the full article