Recent Developments

General Information

With mortgage origination activity indefinitely suspended, the focus remains on servicing the existing portfolio of whole loans. Home price appreciation and record low mortgage interest rates continued to drive significant payoff activity. The number of mortgages in the portfolio fell by approximately 37 percent during the calendar year (from 2,907 loans at the beginning of the year to 1,844 mortgages as of December 31, 2015).