The U.S. Department of Housing and Urban Development (HUD) is cleaning up its books and auctioning off roughly $444 million in reverse mortgages on Wednesday to reduce the risk to its Mutual Mortgage Insurance (MMI) Fund. The sale includes about 1,600 Home Equity Conversion Mortgages (HECMs) tied to vacant single-family homes where the borrowers are […]
HUD is auctioning off 1,600 HECMs — with more to come Read More »
ICE is rewriting the playbook on how lenders engage with customers across the homeownership journey. Matt Dowd, VP of Product Management at ICE, shares the company’s strategy to unify its origination and servicing solutions, allowing lenders to more easily identify, engage and convert opportunities within their existing portfolios to drive business growth. This integrated approach
ICE Mortgage Technology’s new integration of its servicing and origination platforms reflects a broader trend in the mortgage industry — offering home equity loans while rates remain high and preparing for refinances as rates begin to decline. The same logic underpins deals such as Rocket Companies’ acquisition of Mr. Cooper Group and Bayview Asset Management’s
ICE links MSP and Encompass to unlock home equity, refi loans Read More »
Rithm Capital, the parent of multichannel mortgage lender Newrez, said it’s not currently moving forward with plans on an initial public offering for the subsidiary as it focuses on supporting the firm’s broader portfolio. Instead, the firm is turning its attention to mergers and acquisitions, even amid macroeconomic uncertainty. “First of all, we spent a
Rithm Capital delays Newrez public listing, eyes M&A opportunities Read More »
Customer satisfaction with mortgage servicers has plummeted this year, with an average satisfaction score that’s now much lower than the typical score for mortgage originators. That’s according to J.D. Power‘s 2025 U.S. Mortgage Servicer Satisfaction Study, released onThursday. J.D. Power said the gap comes down to communication and service. While 30-year mortgage rates remain high
Customer satisfaction with mortgage servicers is fading Read More »
PennyMac Financial Services Inc. (PFSI) on Tuesday reported net income of $136.5 million for Q2 2025 on revenue of $444.7 million, which executives attributed to big strides made in the broker channel and a servicing portfolio that has surpassed $700 billion UPB. During the earnings call, CEO and Chairman David Spector commented that PennyMac was experiencing
PennyMac, the top dog in correspondent, says its broker business is booming Read More »
Seattle-based HomeStreet Bank has agreed to sell its $794 million Ginnie Mae loan servicing portfolio to an undisclosed “experienced” buyer, the company announced in a regulatory filing. The transaction is scheduled to close on August 1. “As HomeStreet carried this servicing portfolio at current market value at June 30, 2025, no gain or loss is
HomeStreet to sell $794M in Ginnie Mae MSRs Read More »
Bayview Asset Management’s $1.3 billion deal to acquire Guild Holding Co., the parent of Guild Mortgage, has left loan officers wondering how the traditionally purchase-focused lender would integrate refinance capabilities to leverage the $770 billion servicing portfolio of soon-to-be sister company Lakeview Loan Servicing, the nation’s second-largest mortgage servicer. Guild LOs, who spoke with HousingWire
After the Bayview deal, what’s the refi strategy for Guild Mortgage? Read More »
New issuance of agency mortgage servicing pools is down sharply — $555 billion through the first six months of 2025 versus $1.1 trillion in the same period last year — and is reflective of a sluggish origination environment. That’s according to Recursion‘s Agency Mortgage Servicer/Seller Report for July 2025. Prepayments were also down to $301
Nonbanks cement their dominance in agency servicer/seller market Read More »
There are about 80,000 veterans in the U.S. who are behind on their mortgages and heading toward foreclosure, according to data from ICE Mortgage Technology, a number that could have been alleviated with help from the Veteran Affairs Servicing Purchase (VASP) program. But just last month, the program was abruptly discontinued by the U.S. Department of Veterans
Without VASP, veterans don’t have a foreclosure safety net Read More »