News Topic: MSR

The company's second-quarter net income was $116 million, with mortgage banking revenue of $239 million. ... Read full article

While many lenders lately managed their business expecting reduced volume, now they get to capitalize on extremely low mortgage rates. But today's benevolent conditions will not always be with the industry. ... Read full article

With long-term interest rates at historic lows, mortgage refinancing is coming on strong. But that additional revenue may not be enough to offset net interest margin pressures and lost servicing income. ... Read full article

FB Financial is selling its correspondent lending channel to Rushmore Loan Management Services, which will complete the bank holding company's restructuring of its mortgage business. ... Read full article

The mortgage agency has hired Eric Blankenstein, who sparked controversy while at the consumer bureau over past revelations of racially charged writings. ... Read full article

The moves are part of an ongoing effort by the Seattle bank to largely exit mortgage lending. ... Read full article

Freddie Mac exchanged existing bonds from its portfolio for mirror certificates for the first time, completing a key test that is central to the creation of a uniform mortgage-backed security. ... Read full article

The company disclosed that it paid $146 million for servicing rights associated with $13 billion in mortgages. ... Read full article

HomeStreet Bank will attempt to sell its stand-alone mortgage business and portfolio of servicing rights, a move that comes amid growing pressure from an activist investor to exit home lending and concerns about declining demand and regulatory challenges. ... Read full article

The Dallas bank reported sizable growth in business and mortgage lending in the second quarter, but it more than doubled its provision for loan losses to cover four credits that went into nonaccrual status. ... Read full article

The deal is designed to improve capital ratios and reduce risk at the Seattle company. ... Read full article

The Atlanta bank had previously failed compliance metrics in five straight quarters before passing them last year, according to the settlement's monitor. ... Read full article

As other banks de-emphasize mortgage lending, Citizens is spending half a billion dollars to buy a large originator with a big servicing portfolio. ... Read full article

Freddie Mac has quietly started extending credit to nonbanks that issue mortgages, a move it says will help the companies maintain access to a crucial stockpile of cash if their home loans go sour. ... Read full article

However, mortgage growth and servicing income weren't the only reasons profits rose by double digits at the Dallas bank. ... Read full article

Results were also aided by strong growth in residential construction, commercial and equipment financing. ... Read full article

Banks would welcome a proposal to loosen Basel III capital restrictions because it would make holding mortgage servicing rights easier and stem the recent exodus of depositories from the servicing business, executives said. ... Read full article

Servicers are still trying to figure out how they can best take advantage of the growing use of electronic notes and other digital mortgage tools by lenders and the secondary market. ... Read full article