Pennymac struck a deal to buy Cenlar Capital Corp.’s subservicing business in a move that will boost its portfolio above a key benchmark and increase the nonbank concentration in the space. Processing Content The acquirer’s financial services company will pay $172.5 million upfront for Cenlar’s portfolio and operations with a $85 million contingent consideration, according […]
Pennymac to buy Cenlar’s subservicing business Read More »
Mortgage servicing technology provider Sagent has hired another former Mr. Cooper executive to a leading role, naming Sridhar Sharma as president. Processing Content Sridhar Sharma, formerly chief innovation and digital officer at Mr. Cooper, is the new president of Sagent. Sharma joins Chris Marshall, the former Mr. Cooper president who became Sagent’s executive chairman in
Mr. Cooper exec jumps to Sagent for AI rollout Read More »
Mortgage delinquency rates were up in the fourth quarter, with sharper increases in areas with rising unemployment rates and falling home prices, a new industry report shows. Processing Content While credit card and loan delinquency rates have mellowed, albeit at elevated rates, mortgage delinquency rates continued to steadily grow in the fourth quarter, although still
A K-shaped split is emerging in mortgage delinquencies Read More »
Mr. Cooper is facing another complaint over its fees, from plaintiffs claiming over $15 million in damages. Processing Content Two borrowers filed the class action lawsuit this week in Ohio, including parent company Rocket Mortgage as a defendant. The filing seeks relief for over 787,000 borrowers who paid off their mortgage in recent years, who
Mr. Cooper sued over $20 third-party reconveyance fees Read More »
When a borrower leaves a property, voluntarily or through foreclosure, the asset’s risk profile changes immediately. For housing financers and mortgage lenders, a vacant home is not simply a pause in revenue. It represents an active liability that requires aggressive management to prevent significant financial loss. Processing Content Understanding the specific risks associated with vacant
The hidden cost of vacant properties for mortgage lenders Read More »
A group of eight Republican senators is again urging the Federal Emergency Management Agency to scrap Risk Rating 2.0, the flood insurance pricing overhaul implemented under the Biden administration. The request comes in a new letter led by Sen. Bill Cassidy of Louisiana, following a similar appeal he sent to FEMA last June. Processing Content
GOP senators push FEMA to scrap Risk Rating 2.0 Read More »
A Two Harbors Investment shareholder is suing the REIT to halt its deal with United Wholesale Mortgage, raising accusations around financial disclosures and board members’ stock sales. Processing Content Michael Koblentz also named Two President and CEO William Greenberg and the company’s board of directors as defendants in the lawsuit filed Wednesday in an Illinois
Two Harbors shareholder wants to halt UWM deal over filings Read More »
Borrower equity reached a four-year low in the fourth quarter of 2025, while underwater mortgages hit its largest share in nearly three years, according to a new industry report. Processing Content Less than 45% of mortgage residential properties in the United States were considered equity-rich last quarter, meaning that the combined estimated amount of loan
Home equity slips to 4-year low as underwater loans rise Read More »
As Two Harbors Investment moves toward its sale to UWM Holdings, the mortgage REIT posted another quarterly GAAP loss and fell short of Wall Street’s earnings expectations, even as results improved sharply from a settlement-driven stumble earlier in the year. Processing Content The net loss of $1.3 million was much improved from the third
Two Harbors misses estimates as UWM deal nears Read More »
Newrez is leaning into technology investments to shore up borrower recapture and future originations after fair-value losses in its mortgage-servicing rights pushed the lender to a fourth-quarter loss, underscoring how quickly market volatility can upend mortgage earnings. Processing Content Fair-value losses in mortgage-servicing rights helped push total net income at Rithm Capital’s mortgage subsidiary
Newrez bets on tech as MSR losses drag Q4 results Read More »