The MSR Trading Journal
The secondary market for mortgage servicing rights has recently seen activity on several agency deals, including some involving commercial real estate loans.
Flagstar Reduces Size of Mortgage Business
Residential loan production declined at Flagstar Bancorp Inc. as mortgage assets were reduced and mortgage staffing was trimmed. While the servicing portfolio expanded, it was still far leaner than a year ago.
SunTrust Mortgage Closings Lowest in At Least Decade
New mortgage business at SunTrust Banks Inc. dropped to the lowest level in at least a decade.
Agency MSRs Up for Bid
A small servicing portfolio of agency loans is being marketed for sale. Bids are being accepted for portions of the portfolio.
Fannie Updates Appraisal Requirements
Appraisal policies have been updated at the Federal National Mortgage Association. Impacted areas include required photos, acceptable comparable properties and updated reports.
Legislation Would Boost Private Label RMBS Issuance
Legislation that would eliminate the Federal National Mortgage Association and the Federal Home Loan Mortgage Corp. could be a boon for non-agency issuance.
Citi Production Tumbles, Delinquency Down
Mortgage originations have plummeted by more than 70 percent from a year ago at Citigroup Inc. and were down by more than a third from the prior quarter. But the lender improved performance on its mortgage portfolio.
MSRs on Nearly $900 Million in Loans Up for Bid
Mortgage servicing rights on nearly $900 million in agency home loans have been put up for bid.
Mortgage Originations Sink at Wells Fargo
New mortgage business tumbled to the lowest level in more than a decade at Wells Fargo & Co. A decline in junior lien holdings more than offset an increase in first mortgage assets.
Chase Shrinks Mortgage Business
Home lending fell to the lowest level during any quarter in at least 11 years at JPMorgan Chase & Co. The company also cut its servicing portfolio, reduced its mortgage assets and eliminated mortgage jobs.