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 »
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 »
When UWM Holdings Corp. lost its bid last week to acquire Two Harbors Investment Corp. (TWO), upstaged by an offer from rival CrossCountry Intermediate HoldCo, analysts were not entirely surprised. “It was such a wild turn of events,” said Eric Hagen, an analyst at BTIG. “But we were not surprised that it broke up.” The
UWM tried for its first acquisition, then its stock fell and the math stopped working 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 »
Borrowers are still anchored to ultra-low, pandemic-era mortgage rates, a mindset that is influencing both purchase and refinance trends as the market heads into 2026. That’s according to Mike Vough, Optimal Blue‘s senior vice president of corporate strategy, who highlighted the company’s latest Market Advantage report in a conversation this week with HousingWire at the
Optimal Blue’s Mike Vough on borrowers staying rate anchored into 2026 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 »
Eight trade groups representing lenders are urging federal regulators to revise bank capital rules by adopting a more tailored risk weight for mortgages held on balance sheets and by significantly cutting the capital charge applied to mortgage servicing rights (MSRs). In a letter sent Friday to the Federal Reserve, the Federal Deposit Insurance Corp. and the
Trade groups push for lower MSR capital charges, tailored mortgage risk weights Read More »
Regulatory changes to how banks treat mortgage assets — anticipated this week by Federal Reserve Vice Chair Michelle Bowman — may have an impact on the mortgage market over time, analysts said. “The near-term impact on the mortgage market is likely to be somewhat limited,” Keefe, Bruyette & Woods (KBW) analysts wrote in a report
New Fed proposals could reshape mortgage capital requirements Read More »
Michelle Bowman, the Federal Reserve‘s vice chair for supervision, used a major industry forum to argue that Basel capital rules have helped to drive mortgage lending and servicing away from banks — and that it’s time to reconsider that approach. Addressing the American Bankers Association (ABA)’s 2026 Conference for Community Bankers on Monday, Bowman described
Basel capital rules may be revised to boost bank mortgage lending Read More »
The move by United Wholesale Mortgage’s (UWM) parent company to acquire Two Harbors Investment Corp. for $1.3 billion — the first acquisition in its history — marks a shift towards a more balanced business model between origination and servicing for the nation’s top mortgage lender. UWM will continue to focus on its broker channel, while
UWM shifts strategy with $1.3B Two Harbors deal, boosts servicing Read More »