MSR

Many servicing metrics look weaker amid lower rates although valuations can vary depending on companies' models, operations and portfolio composition.

Many other organizations have turned to sales of this asset class in order to enhance cash flow or liquidity.

Non-depositories now dominate home lending, but many of these firms were untested until they had to grapple with the current rising rate environment. How they fare could significantly impact the rest of the mortgage market and, more specifically, the Government National Mortgage Association.

The post was vacant since Kristy Fercho left to run Wells Fargo Home Loans in July.

The company's second-quarter net income was $116 million, with mortgage banking revenue of $239 million.

While many lenders lately managed their business expecting reduced volume, now they get to capitalize on extremely low mortgage rates. But today's benevolent conditions will not always be with the industry.

With long-term interest rates at historic lows, mortgage refinancing is coming on strong. But that additional revenue may not be enough to offset net interest margin pressures and lost servicing income.

FB Financial is selling its correspondent lending channel to Rushmore Loan Management Services, which will complete the bank holding company's restructuring of its mortgage business.

The mortgage agency has hired Eric Blankenstein, who sparked controversy while at the consumer bureau over past revelations of racially charged writings.

The moves are part of an ongoing effort by the Seattle bank to largely exit mortgage lending.

Freddie Mac exchanged existing bonds from its portfolio for mirror certificates for the first time, completing a key test that is central to the creation of a uniform mortgage-backed security.

The company disclosed that it paid $146 million for servicing rights associated with $13 billion in mortgages.

HomeStreet Bank will attempt to sell its stand-alone mortgage business and portfolio of servicing rights, a move that comes amid growing pressure from an activist investor to exit home lending and concerns about declining demand and regulatory challenges.

The Dallas bank reported sizable growth in business and mortgage lending in the second quarter, but it more than doubled its provision for loan losses to cover four credits that went into nonaccrual status.

The deal is designed to improve capital ratios and reduce risk at the Seattle company.

The Atlanta bank had previously failed compliance metrics in five straight quarters before passing them last year, according to the settlement's monitor.

As other banks de-emphasize mortgage lending, Citizens is spending half a billion dollars to buy a large originator with a big servicing portfolio.

Freddie Mac has quietly started extending credit to nonbanks that issue mortgages, a move it says will help the companies maintain access to a crucial stockpile of cash if their home loans go sour.

However, mortgage growth and servicing income weren't the only reasons profits rose by double digits at the Dallas bank.

Results were also aided by strong growth in residential construction, commercial and equipment financing.