Federal efforts to push rates lower have helped boost mortgage production, but they are also creating headwinds for servicing that are starting to show up in earnings. Processing Content US Bank generated record revenue overall, but in the details beneath that top-line item was a $11 million drop in the valuation for servicing rights, net […]
Banks see MSR strain despite strong top-line results Read More »
A group of mortgage borrowers have filed a third amended class action complaint against Wells Fargo over loan-modification issues dating back to 2010. Processing Content The latest action in Curry, et al. v. Wells Fargo Bank NA reiterates allegations related to Wells Fargo miscalculations around the cost of loss mitigation for multiple borrowers, but focuses
Wells Fargo faces amended class action loan-mod complaint Read More »
President Trump has issued an executive order aimed at stopping federal agencies from taking any actions to facilitate an institutional player’s acquisition of any single-family house an individual owner-occupant could purchase. Processing Content The follow up to earlier social media posts about the idea includes plans for a legislation recommendation and affects homes involved in
Trump issues order restricting large single-family investors Read More »
As President Trump talks up ambitious housing initiatives at the World Economic Forum this week, a new Fannie Mae video ad circulating on social media, which features an AI-generated version of his voice, has a message for banks. Processing Content The AI voiceover in the ad, which was pinned to housing official Bill Pulte’s X
Trump administration ad hints at actions to widen credit box Read More »
Government securitization guarantor Ginnie Mae is providing mortgage companies with more options for pooling loans as it starts 2026 with a newly confirmed president. Processing Content Electronic promissory notes, which Ginnie made eligible for commingling with traditional collateral back in 2024, can now be included in Pools Issued for Immediate Transfer starting Feb. 1. PIIT
Ginnie Mae adds pooling flexibilities as 2026 gets underway Read More »
Foreclosures notably increased in 2025, but still remained well below prepandemic levels, according to Attom’s year-end foreclosure market report. Processing Content Foreclosure filings, default notices, scheduled auctions and bank repossessions, were reported on 367,460 properties in the United States last year, up 14% from 2024 and 3% from 2023, but still down 25% from 2019,
Foreclosure filings rose again in 2025, Attom finds Read More »
The average credit card user carries a balance of nearly $6,000, as Americans hold more debt than ever, a new industry report found. Processing Content Americans bear a record $1.21 trillion in credit card debt, as the median interest rate hit 25.3%, according to Academy Bank’s latest white paper. The trend could affect home loan
Card debt hits record amount as providers charge high rates Read More »
The Department of Housing and Urban Development will be selling thousands more reverse mortgages that have been called due-and-payable on occupied homes, continuing a practice that began late last year. Processing Content More than 2,500 nonvacant loans with a total principal balance around $730 million are going up for sale on Feb. 10. Until recently, department’s
FHA reverse mortgage properties go up for sale Read More »
California Governor Gavin Newsom said a group of major banks have agreed to extend mortgage relief for Los Angeles wildfire victims, as the area struggles to rebuild one year after the devastating blazes. Processing Content Wells Fargo, JPMorgan Chase, U.S. Bancorp and Citigroup will streamline requests for an additional 90-day forbearance period, allowing borrowers to
Large banks extend mortgage relief for LA wildfire victims Read More »
Chris Marshall, the former Mr. Cooper executive who was serving as Sagent’s chairman, has added the CEO title at the mortgage servicing technology company. Processing Content Geno Paluso, who had taken the CEO job after Marshall first became chairman, will become vice chairman and serve as a senior advisor during a transition period, a press
Chris Marshall adds CEO title to chairman role at Sagent Read More »