Mortgage Contracting Services will close the Utah office of its MCS Valuations subsidiary and consolidate its operations into three offices nationwide.
Mortgage Contracting Services will
Mortgage Contracting Services
The decision was made "after nearly a year of evaluating the skills and experience of our management and staff in our various offices," Caroline Reaves, chief executive, said in a news release.
Lower rates during the period helped independent mortgage bankers make money on their originations but they posted losses on servicing.
The incoming Trump administration is expected to prioritize an activities-based oversight approach to nonbank entities, just as the Biden administration has. It may also leave its designation power intact, but unused.
Freedom Mortgage CEO Stan Middleman weighs in on the Fed, servicing policy, and broker-to-banker moves as he comments on challenging career experiences in his new biography.
A Pennsylvania federal judge ruled that HUD's handbook allowed, but did not require servicers to offer partial claim workarounds in tandem with funds from HAF.
New Mexico is the state least wanting to refinance, with 369.38 keyword searches per 100,000 people.
The study found nonbank lenders charging the highest interest rates and most points, and fintech pricing more in-line with depositories.
