National Mortgage News, July 26, 2023–Bonnie Sinnock (subscription)Mr. Cooper reported that it amassed near-record levels of liquidity in the second quarter as it braces for potential changes to bank capital …
Category: Top National News
Mr. Cooper Boosts Q2 Profits to $142M as Servicing Business Grows
HousingWire, July 26, 2023-Flávia Furlan Nunes (subscription)In acquisition mode, Mr. Cooper Group continued to improve its profitability, beating analysts’ expectations in the second quarter of 2023.https://www.housingwire.com/articles/mr-cooper-boosts-q2-profits-to-142m-as-servicing-business-grows/
How Climate Change Could Cause a Home Insurance Meltdown
NPR, July 22, 2023–Michael Copley, Rebecca Hersher, Nathan RottHundreds of thousands of California homeowners face the state’s growing climate threats with a weaker safety net. Over the past two years, …
Bank Regulators Urge Flexibility in Commercial Real-Estate Loan Workouts as Defaults Grow
Wall Street Journal, July 24, 2023-Peter Grant (subscription)Bank regulators are taking a page from their playbook of the 2008-09 financial crisis to help lenders weather the approaching tidal wave of …
Deal to Purchase Home Point Capital Delayed
National Mortgage Professional, July 24, 2023-Christine StuartMr. Cooper Group’s offer to purchase Home Point Capital is being extended until July 31. https://nationalmortgageprofessional.com/news/deal-purchase-home-point-capital-delayed
Lenders Seek Foreclosure of WeWork Tower in San Francisco
GlobeSt.com, July 21, 2023–Jack RogersThe lenders for a 20-story office tower in San Francisco owned by an affiliate of co-working space provider WeWork and Rhone Group are suing to foreclose …
Mortgage-Refinance Demand Recovers Some After Rates Come Off Recent Highs
CNBC, July 19, 2023-Diana OlickMortgage interest rates pulled back last week after jumping sharply to start July. That lit a fire under refinance demand but did little to help potential …
New Capital Rules May Increase Risk Weighting for Servicing: BTIG
National Mortgage News, July 19, 2023–Bonnie Sinnock (subscription)The pending reform of depository capital rules has the potential for making it even tougher for banks to hold mortgage servicing rights, according …
Freedom Mortgage Alleges That Subservicer’s Errors Cost it Over $30M
National Mortgage News, July 19, 2023–Maria Volkova (subscription)A lawsuit that Freedom Mortgage filed against LoanCare more than half a decade ago is finally getting its day in a New Jersey …
CFPB Argues Intent, Not Language, Should Determine TILA Policy
National Mortgage News, July 18, 2023 Spencer Lee (subscription)The Consumer Financial Protection Bureau filed a joint amicus brief with the state of Maine last week in a case that has …