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Incenter acquires due diligence firm Edgemac

Housing Wire

Incenter is adding a third-party due diligence review firm to its umbrella of companies. Edgemac , which Incenter acquired at the end of last year, does due diligencing for mostly non-QM and jumbo loans, as well as private label reverse mortgages that could eventually be securitized.

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Loan buybacks haven’t disappeared, but they are trending down

Housing Wire

ACES Quality Management , a fintech that provides quality-control software for the financial services industry, issued a Mortgage QC Industry Trends report with data through Q3 2023. The report defines a critical defect as one that “would result in the loan being uninsurable or ineligible for sale.”

Loans 371
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NYCB to sell $5B in mortgage warehouse loans to JPMorgan

Housing Wire

The transaction is subject to due diligence, negotiation of definitive terms and other closing conditions. The sale is expected to close in the third quarter of 2024. But they are not immune to systemic industry shocks, including last year’s bank crisis.

Loans 309
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GSE repurchase risk is rippling through the MSR market

Housing Wire

The mortgage servicing rights (MSR) market has been very active this year, with robust deal flow that is on par with last year’s record $1 trillion in trading volume and with generally good pricing for MSR packages, industry experts agree. We’re seeing good multiples [a measure of pricing on MSR pools], like 5.5

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What is portfolio cleansing?

Housing Wire

The mortgage servicing industry landscape is shifting. For over a decade, the industry has experienced growth from two primary sources. This can cause problems for servicers in instances where loans are acquired with unknown, pre-existing property tax delinquencies missed in the due diligence phase.

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Here’s the key to true, sustainable efficiency in the mortgage industry

Housing Wire

Michael Franco: The last two years in the mortgage industry have certainly been unique. Origination volume doubled expectations and wide gain-on-sale margins brought on by record low mortgage rates forced the industry to increase their capacity to meet surging loan demand. At the heart of our ecosystem approach is technology.

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The current REO market requires an expansion of services for business growth

Housing Wire

Tiffany Fletcher: Real Estate Owned (REO), acquired by lenders , banks, or financial institutions typically due to mortgage loan defaults, involves the strategic marketing and sale of existing properties to mitigate losses on outstanding loans. TF: Effective risk management in REO asset sales involves awareness of the intrinsic risks.