Servicing Trends; Owen's New Consent Order; Rates and The Healthcare Plan

Posted To: Pipeline Press

As an industry, we continue to be reminded of a small minority’s wrongdoings. The latest example comes from New York where a Copiague man was sentenced last Friday to 12 ½ years in federal prison for conning banks out of more than $30 million in a mortgage scam over a six-year span. Before everyone starts hoping for fewer rules and regulations, and looser loan guidelines, how can we convince politicians and regulators that things like this won't happen again? Servicing News Fitch reported that most U.S. mortgage servicer portfolios are seeing their non-agency exposure continue to decline , though Select Portfolio Servicing (SPS) is proving to be a notable anomaly, per Fitch's latest quarterly U.S. RMBS Servicer Handbook . ThomsonReuters noted, "The slow return of the new issue...(read more)

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