Home >> Tag Archives: Mortgage Servicing Rights (page 3)

Tag Archives: Mortgage Servicing Rights

$835M Ginnie Mae Servicing Portfolio Hits Market

A new $835 million Ginnie Mae mortgage servicing rights (MSRs) portfolio has hit the market, with Colorado-based MountainView Servicing Group acting as the advisor. According to an announcement from MountainView, the bulk servicing offering includes 99.7 percent fixed-rate and 100 percent first-lien product with a weighted average original FICO score of 691.

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CFPB Gives Warning on MSR Transfers

In a bulletin issued Tuesday, the Consumer Financial Protection Bureau warned mortgage servicers to pay close attention to the new "common-sense" mortgaging rules implemented by the bureau in January 2014, aimed at protecting consumers from being harmed during loan transfers.

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$2.5B Fannie, Freddie MSR Portfolio Up for Bid

A new $2.5 billion GSE mortgage servicing rights (MSR) portfolio has hit the market. MountainView Servicing Group, acting as exclusive sale advisor to the MSR seller, unveiled the portfolio, which includes both Fannie Mae and Freddie Mac loans. According to MountainView, the portfolio is made up of 94 percent fixed-rate and first-lien product with an average loan size of $226,161.

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$1B Fannie Mae Portfolio Hits Market

As the second quarter comes to a close, a new $1 billion Fannie Mae bulk residential mortgage servicing rights (MSR) portfolio has hit the market. The announcement of the sale was made by Interactive Mortgage Advisors (IMA), which is acting as exclusive broker. The company describes the offering as "an excellent opportunity to focus and bid on newly originated MSRs with below market interest rates."

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New York Reg to Expand Probe into Non-Bank Practices

The New York regulator who earlier this year launched a probe into the practices of non-bank mortgage servicers revealed Tuesday he plans to expand his investigations. Delivering remarks at the Mortgage Bankers Association' 2014 National Secondary Market Conference, Superintendent Benjamin Lawsky of New York's Department of Financial Services said the agency plans to dig into fee-based ancillary services at non-banks such as Ocwen and Nationstar.

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$1.1B in Servicing Rights Up for Bid

MountainView Servicing Group announced it is advising the sale of another two mortgage servicing rights (MSR) portfolios, these ones possessing a combined unpaid principal balance of $1.1 billion. The first portfolio, which goes up for bid April 3, is $923 million of Freddie Mac servicing. The second offering unveiled this week is a $205 million Fannie Mae portfolio bidding on April 4.

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Report: For Servicers, a Sea Change

In a recent report, Fitch Ratings notes that new servicing oversight will yield higher fixed costs, as technology and process enhancements are made in order to comply with the new guidelines. This increase in cost will push non-bank servicers to grow their portfolios, and Fitch suggests “strong forces are still in place to further incent both outright MSR sales and subservicing arrangements, thus heightening scrutiny of such transactions."

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Nearly $600M in MSRs Presented for Bidding

Out of Colorado, brokerage Interactive Mortgage Advisors announced two separate mortgage servicing rights (MSR) offerings totaling a combined $583.6 million. The first portfolio, valued at $89.7 million, is made up of Fannie Mae, Freddie Mac, and Ginnie Mae loans that are five months seasoned. The other portfolio, a $493.9 million bulk Ginnie Mae offering, is made up entirely of recently originated Veterans Affairs loans.

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New Residential $900B Mortgage Pool from Springleaf

Real estate investment trust (REIT) New Residential Investment Corp. announced a commitment to purchase interests in a $900 million pool of non-agency loans. According to a release from New Residential, the loans involved in the deal were previously securitized by an affiliate of Springleaf Financial Corporation, which was previously affiliated with AIG until it was acquired by Fortress Investment Group managed funds in 2010. Though the terms of the deal were not disclosed, New Residential expects to settle the acquisition by the end of this year's first quarter.

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Regulator Calls Nationstar on ‘Explosive Growth’

A regulator who recently took actions to curb growth at Ocwen has now turned his eye to Nationstar. In a letter addressed to the company, Benjamin Lawsky, superintendent of New York's Department of Financial Services, said his agency has concerns "that the explosive growth at Nationstart and other nonbank mortgage servicers may create capacity issues that put homeowners at risk."

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