The Company manages its long-term mortgage portfolio, which consists of residual interests in the securitization trusts reflected as trust assets and liabilities. Its long-term mortgage portfolio includes adjustable rate and fixed rate Alt-A single-family residential mortgages and commercial (multifamily residential loans) mortgages.
The Company provides loss mitigation and recovery services on its long-term mortgage portfolio, including default surveillance, loan modification services, short sale services, real estate owned (REO) surveillance and disposition services and monitoring, reconciling and reporting services for residential and multifamily mortgage portfolios. It offers loan modification solutions to individual borrowers.
The Company originates, sells and services conventional, conforming agency and insured residential mortgage loans originated or acquired through its approximately three channels: correspondent, wholesale and retail. Its mortgage lending operation generates origination and processing fees, net of origination costs, at the time of origination. Its mortgage lending activities consist of the origination, sale and servicing of conventional loans.