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Inside Pennymac’s Texas expansion and its push for top mortgage talent

HWmember, Mortgage, PennyMac, Servicing /

Pennymac cut the ribbon on a new facility in Carrollton, Texas, on Friday, which will become the company’s largest corporate office, eventually housing more than 1,800 employees. The move consolidates two offices in the Dallas/Fort Worth metroplex while also giving the company room to grow. Pennymac is taking full advantage of the bigger space, actively hiring […]

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US home equity drops $374B as underwater mortgages rise

Home equity loans, Home Prices, Housing markets, Servicing /

Borrower equity in the U.S. saw a third-quarter pullback, while a corresponding increase in underwater mortgages is raising concerns about the financial health and debt levels of some homeowners, according to Cotality.   Processing Content Home equity levels declined by $373.8 billion year over year in the third quarter, representing a drop of 2.1% to approximately

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Fitch flags rising leverage across nonbank lenders

Earnings, Servicing, Underwriting /

Fitch Ratings says its 2025 review of nonbank mortgage lenders reflects how the biggest players have strengthened their franchises during three years of consolidation. Processing Content “The largely stable outlooks reflect Fitch’s expectation that the operating environment will improve moderately and financial metrics will remain within rating sensitivities,” the report said It cited Inside Mortgage

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Ginnie Mae aligns liquidation reporting with GSEs

Ginnie Mae aligns liquidation reporting with GSEs

Distressed, Ginnie Mae, Politics and policy, Secondary markets, Servicing /

Ginnie Mae announced its plans to change liquidation reporting requirements in a move that aligns its policies more closely with the government-sponsored enterprises and mortgage-market participants.  Processing Content The change serves to enhance operations and improve accuracy and timeliness of liquidation event data, which are used to help determine payments tied to Ginnie Mae’s mortgage-backed

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Mortgages delinquencies may inch up amid affordability pressures

Credit, Risk management, Servicing /

Consumer credit is broadly stable but historically low mortgage delinquencies could drift upward in the coming year, according to Transunion’s latest forecast. Processing Content The average mortgage delinquency rate that ended 2024 at 1.39% and is on track to reach 1.54% by the end of this year may be 1.65% by the time 2026 is

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Ruling reshapes foreclosure challenges in New York

Ruling reshapes foreclosure challenges in New York

Foreclosures, Regulation and compliance, Servicing /

A court’s ruling in a closely watched case involving New York’s six-year statute of limitations puts pressure on related parties to confirm that the entity initiating a foreclosure lawsuit is a noteholder with standing. The New York Court of Appeals ruled in Article 13 LLC vs. Ponce De Leon Federal Bank that an interpretation of

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Zillow deleting home climate risk scores reveals limits of flood, fire data

Climate Change, Flood insurance, Servicing, Weather and Climate Change Risk /

When Zillow Group Inc. removed climate risk scores from its home listings last month, following a complaint from the real estate industry, many observers took to the press and social media to warn that disappearing the data doesn’t get rid of the risk.  In a world assailed by extreme weather, homeowners and purchasers need to know their property’s vulnerability to

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Milliman buys Morvest in deal that deepens MSR expertise

Capital markets, M&A, Secondary markets, Servicing /

Milliman has acquired Morvest Capital, expanding the global consulting and actuarial firm’s reach in a specialized corner of the housing finance market. The company is adding a mortgage servicing rights analytics and risk-management provider through the transaction. Milliman did not disclose terms in its announcement. “This acquisition accelerates our growth in the mortgage sector and

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Vacancies fuel a rise in commercial loan delinquencies

CMBS, Commercial mortgages, Multifamily, Servicing /

Commercial and multifamily delinquency rates increased in each of the first two quarters this year, but delivered a mixed bag in the third quarter. Greater vacancies have consistently caused delinquency rates on commercial mortgage-backed securities and multifamily loans from the government sponsored enterprises to increase since the pandemic, while other companies have benefitted from stabilizing

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Bank servicers lead new J.D. Power digital app rankings

Marketing, Mortgage technology, Servicing /

Bank mortgage servicers dominate the top of the first ever J.D. Power U.S. Mortgage Servicer Digital Experience Study, highlighting the slower industry-wide adoption of mobile apps in this area. The bank lenders have had mobile apps in the marketplace much longer than most non-banks. Of the 17 mortgage servicers that received scores, seven of the

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