Onity Group Inc. won regulatory approval for a revised sale of most of its reverse mortgage servicing rights to Finance of America (FOA), the company said Tuesday. Under the new agreement, Onity will sell MSRs on about 20,000 Home Equity Conversion Mortgages (HECMs) with an unpaid principal balance of $5.1 billion as of March 31. […]
Onity approved to sell reverse MSRs to Finance of America Read More »
The Consumer Financial Protection Bureau (CFPB) could finalize changes to its Regulation X servicing rules while creating a regulatory pathway for streamlined refinances through the government-sponsored enterprises (GSEs) by the end of this year, mortgage industry sources told HousingWire. Meanwhile, prospects for changes to the loan originator compensation rule (LO Comp Rule) — particularly revisions
CFPB prioritizes Reg X, GSE streamline refis as LO Comp hopes fade Read More »
A new white paper from BlackWolf Advisory Group says adoption of artificial intelligence in mortgage servicing is accelerating as firms seek to reduce costs, improve compliance and automate routine tasks. While the paper says servicers are ready and actively adopting AI, regulatory scrutiny and legacy technology systems remain as major barriers. The paper, titled “Mortgage
AI adoption in mortgage servicing is accelerating, BlackWolf says Read More »
Ginnie Mae President Joseph Gormley, who is also serving as acting commissioner of the Federal Housing Administration (FHA), said the counterparties participating in Ginnie Mae’s program have evolved significantly since the Great Financial Crisis, with greater exposure to independent mortgage banks (IMBs) that have invested heavily in governance and risk management. Still, he cautioned that
Ginnie Mae’s Joseph Gormley sounds the alarm on ‘risk-layered’ FHA portfolios Read More »
PennyMac Financial Services reported first-quarter net income of $82.3 million, or $1.53 per diluted share, as stronger mortgage production helped offset weaker servicing results tied to mortgage servicing rights valuation changes and hedging losses. The Westlake Village, California-based mortgage lender and servicer posted adjusted net income of $117.7 million, or $2.19 per diluted share, for
PennyMac Q1 earnings: Strong mortgage production offsets weaker servicing results Read More »
Foreclosure activity accelerated in the first quarter of 2026, with signs of mounting operational pressure for mortgage servicers and downstream vendors, according to ATTOM’s latest U.S. Foreclosure Market Report and insights from industry executives. While overall foreclosure volumes remain below pre-Great Recession peaks, starts, completions and real estate-owned (REO) inventories are climbing, timelines are shrinking
US foreclosure filings rise 26% in Q1 2026, ATTOM says Read More »
An upcoming industry webinar hosted by the National Reverse Mortgage Lenders Association (NRMLA) aims to demystify what happens to a reverse mortgage long after closing, serving as an educational component for loan officers and the seniors they serve. The April 9 webinar, “From Boarding to Maturity: Understanding Reverse Mortgage Servicing Requirements,” will walk loan officers through the
NRMLA webinar to cover reverse servicing and maturity events Read More »
NEXA Lending announced Friday that it’s developing a new initiative aimed at allowing loan originators to participate in recurring income tied to the long-term performance of the loans they originate. The initiative, described as a “servicing-aligned income model,” is expected to begin rolling out as early as July 2026, the company said. The program centers
NEXA Lending targets recurring income model for loan originators Read More »
Top banks in the mortgage space, which have relied on a similar playbook for years, say they could become more active if upcoming changes to capital rules provide more flexibility, several industry executives told HousingWire. But any shift in strategy is expected to take time. Depositories typically focus on their existing customer base, ranging from
Banks eye bigger role in mortgages as regulators reconsider capital rules Read More »
Intercontinental Exchange Inc. (ICE) is seeing an “overwhelmingly positive” response from mortgage servicers in response to its newly updated MSP platform user interface, as servicers view the update as the first step in a broader push toward automation and AI-driven efficiencies. The update marks the first phase of a broader modernization of ICE’s MSP, highlighted by
ICE’s Matt Dowd: MSP updates are ‘just a foundation’ for AI journey Read More »