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A Silver Lining.(Brief Article)
It is the best of times. It is the worst of times. Depending upon your perspective, 2001 has been either a great year for the mortgage servicing industry or a traumatic one. Let's start with the bad news first. A 10-month-old refinancing boom has forced lenders to deal with portfolio churning on a scale rarely seen in the history of the industry. Some lenders, including HomeSide Lending, have been forced to recognize major write-downs in the value of their servicing portfolios as loans ran off the books faster than they could be replaced. We heard that mortgage servicing rights might be a source of earnings volatility under new accounting rules. Now, we know it's true.
On the bright side? Just think about next year.
Most prognosticators expect mortgage rates to edge higher. The consensus forecast is looking for origination volume to total about $1.1 trillion next year, after possibly topping $1.6 trillion this year. That makes the loans being originated this year, most with coupon rates of about 7% or lower, look pretty good from a servicing perspective. Those loans, in all likelihood, will stick around on the books for some time.
Of ...
- Servicing, for What It's Worth ...(value of mortgage servicing rights are hard...
- Magazine article from: American Banker Mandaro, Laura February 25, 2002 700+ words
...understand mortgage servicing rights...plummets when mortgage rates drop and...buyer of a mortgage servicing company...indicator of mortgage rates, dropped...value the mortgage servicing rights portfolio...
- Mortgage Servicing Values Plummet To Historic Lows.
- Magazine article from: Mortgage Servicing News Cornwell, Ted November 1, 2002 700+ words
With mortgage rates hitting a four-decade low in October, the market for mortgage servicing rights continued to tailspin downward...about every company with capitalized mortgage servicing rights on their balance sheet is vulnerable...
- Mortgage servicing's changing landscape.(Servicing)
- Magazine article from: Mortgage Banking Donatacci, Tom December 1, 2003 700+ words
THE MORTGAGE SERVICING MARKET IS beginning to show tangible signs of recovery spurred by mortgage rates lifting off their historical lows...because it will provide an avenue for mortgage servicing price discovery, in many cases...
- Mortgage Servicing Values Appear to Be Poised for Increase.
- News wire article from: Mortgage Line Cornwell, Ted February 22, 2007 700+ words
...NEW YORK -- With mortgage rates creeping upward...times for owners of mortgage servicing rights. But some...s MBA National Mortgage Servicing Conference, it...said. Since then, mortgage rates have continued to...largest owners of mortgage servicing rights, ...
- Third-Quarter Prepays Reignite Impairment: It's not the accounting rules that...
- Magazine article from: Mortgage Servicing News Cornwell, Ted November 1, 2006 700+ words
...the traditional treatment of mortgage servicing rights in their quarterly financial...include some negative surprises. Mortgage rates ended the quarter lower than...impairment to the value of its mortgage servicing rights. M&T Mortgage...
- Lower single-family mortgage servicing fees: legitimate worry or tempest in a...
- Magazine article from: Mortgage Banking Harris, Brian June 1, 2005 700+ words
...constituencies. Mortgage servicing fee reduction...single-family mortgage servicing fees from the current...incorporated into mortgage rates when homebuyers...reduction of the mortgage servicing fee would be a decrease...
- The accounting has shifted for servicing rights. (mortgage servicing rights)...
- Magazine article from: American Banker Horn, Michael F. Oliver, Geoffrey A. September 29, 1993 700+ words
...produced the lowest mortgage rates in 20 years, with...accounting for mortgage servicing rights. The major...accounting issues for mortgage servicing rights are...Servicing Rights Mortgage servicing rights are the...
- Has Consolidation Stalled?(in US residential mortgage servicing market)
- Magazine article from: Mortgage Servicing News Muolo, Paul December 1, 2002 700+ words
...data compiled by Mortgage Servicing News, the top 10...selling of "bulk" mortgage servicing rights. Servicing...the short term, mortgage rates are likely to stay...anticipate that mortgage rates will still be under...