The subservicing business that acquirers have been setting their sights on depends on demand for work with third parties, which begs the question of how popular the strategy really is now. Processing Content A recent Stratmor survey shows that subservicing acquirers like Pennymac, Carrington and Rocket Mortgage are investing in a service that the majority […]
Survey shows just how reliant on subservicers lenders are Read More »
While saying the Consumer Financial Protection Bureau should prioritize narrow targeted reforms to the TILA/RESPA Integrated Disclosures, the Mortgage Bankers Association is also seeking the elimination of the three-day right of rescission on a refinance. Processing Content The response was just one of 339 made for the July CFPB Request for Information on possible revisions
TRID review triggers battle over refi rescission rules Read More »
Matt O’Hara The past several rating actions and closings show where private-label mortgage credit is growing fastest. Home equity extraction, through lines of credit and second liens, persists, while non-qualified mortgages deals lengthen what’s been a record run. Processing Content Borrowers sitting on 3% mortgages won’t refinance to extract equity, so originators are routing that
Home equity, non-QM deals dominate summer RMBS Read More »