Remember, not all math puns are terrible.just sum. Analyzing residential servicing is a combination of math and psychology. If you were an institution thinking of buying mortgage servicing rights (MSR), or a lender running the numbers on retaining servicing rather than selling it to an aggregator like AmeriHome or Penny Mac, you don’t like hearing the saying, “Marry the house, date the rate.” You’d prefer that the loan stay “on your books” well into the future because you want the monthly cash flow. In 2020 and 2021 origination income was dominant. But in 2022 servicing income won the day for those who owned it. What will happen to servicing in 2023? No one has a crystal ball, but if rates stay in the 5’s or 6’s, loans funded in 2020 and 2021 still stick. Prepayments have plummeted: no one wants to pay off their 2.875 percent loan. Of course, there are numerous parties slicing and dicing the numbers. For example, Black Knight
A former New York attorney already accused of stealing more than $425,000 from two of his clients is now charged with pocketing even more money from a third client.Long Island resident Douglas Valente, age 56, was arraigned on one count of…
A former New York attorney already accused of stealing more than $425,000 from two of his clients is now charged with pocketing even more money from a third client.Long Island resident Douglas Valente, age 56, was arraigned on one count of…
Valente of Boca Raton, Florida, 56, was charged with Grand Larceny only two months after having been previously indicted on two separate Grand Larceny counts.
/PRNewswire/ The New Flat Rate, the highly acclaimed price generating software for home service contractors, and Service World Expo are shaking up the home.