Servicing
While mortgage servicing has taken on a much more important consumer-facing perspective since the pandemic, it had previously served as more of a talking point and rally cry within the industry – especially among mortgage brokers. Several years of debate and argument have taken place, especially since the 2017 BRAWL (Brokers Rallying Against Wholetail Lending) movement, in terms of who a customer “belongs to” – whether it’s the mortgage broker or the lender servicing the loan. Brokers garnered a sense of resentment towards lenders that would fund their customers’ loans via their wholesale division, only to later “flip” the customer into their own retail portfolio, essentially eliminating the broker from the equation.
Since then, a greater focus has been placed on lenders and servicers that retain servicing and keep their brokers connected to the end customer. A noteworthy first-mover in the push to support brokers in their long-term customer retention efforts was Homepoint’s Customer For Life program.
Latest Posts
Rocket’s earnings plummet, but its liquidity remains solid
Aug 05, 2022Rocket Companies boosted its liquidity significantly shortly after the end of the second quarter by adding a $1 billion credit facility secured by agency mortgage-servicing rights (MSRs), a recent filing with the SEC shows.
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Ocwen earnings down amid higher rates, spreads
Aug 04, 2022 -
Freedom Mortgage agrees to sell RoundPoint Mortgage Servicing
Aug 04, 2022 -
Servicing business carries Pennymac in Q2 2022
Aug 03, 2022 -
Rithm Capital posts $3M loss as it “right-sizes” mortgage business
Aug 02, 2022 -
Freedom Mortgage launches MSR-backed private-label offering
Aug 02, 2022 -
Mr. Cooper’s Q2 profits down 77% from previous quarter
Jul 27, 2022 -
Opinion: Servicers should take a page from an originator’s playbook
Jul 26, 2022 -
Mortgage forbearance rate declines marginally in June
Jul 18, 2022 -
MSR market picks up in Q3 where Q2 left off: Hot
Jul 15, 2022 -
Mortgages are in free fall at JPMorgan Chase
Jul 14, 2022 -
As states set up their HAF programs, servicers complain of chaos
Jul 11, 2022