Mortgage Servicing

Black Knight: Prepayment Speeds Fell To Lowest Rate In Three Years

Posted by Patrick Barnard on March 24, 2017

Prepayment speeds decreased 15% in February compared with January and decreased 40% compared with February 2016, according to Black Knight Financial Services’ First Look report. Driven down by rising interest rates and lower refinance activity, it was the lowest monthly prepayment [Read More] Adds Ali Haralson As EVP, Client Management

Posted by Patrick Barnard on March 21, 2017

Mortgage servicing veteran Ali Haralson has joined as its new executive vice president for client management. Haralson has more than 20 years of mortgage servicing experience, most recently as chief operations officer and founding member of Specialized Loan Servicing, [Read More]

MountainView Rebrands To MountainView Financial Solutions

Posted by Patrick Barnard on March 17, 2017

MountainView Capital Holdings is now MountainView Financial Solutions. The company says in a release the name change and rebranding better reflects its diverse offering of professional services. The rebranding also includes a new logo and also a new website at [Read More]

CoreLogic Releases Foreclosure Crisis Decade In Review

Posted by Patrick Barnard on March 15, 2017

As of the end of 2016, the national foreclosure inventory, which reflects all homes in some stage of the foreclosure process, included approximately 336,000 properties – or 0.9% of all homes with a mortgage – compared with 1.4 million homes, [Read More]

CoreLogic: One Million Borrowers Regained Equity In 2016

Posted by Patrick Barnard on March 09, 2017

In the fourth quarter, there were about 3.17 million properties, or about 6.2% of all homes with a mortgage, with negative equity.

Exceleras: Shaving Weeks Off The REO Disposition Process

Posted by Patrick Barnard on March 06, 2017

One of the most important metrics when it comes to real estate owned (REO) disposition is time. Every day it takes to move a property off the investor’s balance sheet and back into the market costs money. Mortgage technologists have [Read More]

Caliber Home Loans Buying Banc Of California’s Mortgage Origination Operations

Posted by Patrick Barnard on March 02, 2017

Caliber is also purchasing MSRs from Banc of California for about $36 million.

Specialized Loan Servicing Now Offers Subservicing For Prime Loans

Posted by Patrick Barnard on March 01, 2017

Mortgage servicer Specialized Loan Servicing (SLS) reports that it is now offering subservicing for both prime and nonperforming loans. The firm’s new prime servicing offering for mortgage lenders includes a private-label option, direct call transfers for refinance opportunities, friendly customer [Read More]

New Tool Helps Whole Loan Traders, Servicers Fill Information Gaps

Posted by Patrick Barnard on February 27, 2017

CoreLogic recently introduced a new data and analytics platform for whole loan traders and servicers. The new CoreLogic Lien Equity Analytics Radar (CLEAR) platform provides streamlined, integrated analysis on lien, equity, property and owner status to support critical decisions, the [Read More]

ARMCO Adds New Capabilities For Mortgage Servicers

Posted by Patrick Barnard on February 24, 2017

ACES Risk Management (ARMCO), a provider of financial quality control (QC) and compliance software, has improved the functionality to its ACES Audit Technology by allowing mortgage servicers to customize and internally standardize their customer questionnaires based on how they interpret [Read More]

Black Knight: Prepayment Speeds Down Nearly 30% In January

Posted by Patrick Barnard on February 23, 2017

Mortgage delinquencies (30 days or more past due but not in foreclosure) were at a rate of about 4.25% in January – a decrease of 3.85% compared with December and a decrease of 16.57% compared with January 2016, according to [Read More]

Mortgage Servicer BSI Financial Deploys Advanced Analytics Engine

Posted by Patrick Barnard on February 22, 2017

Mortgage servicer BSI Financial Services reports that it is now using an advanced analytics engine to monitor its approximately $10 billion servicing portfolio. Using this in-house-developed, proprietary analytics tool, BSI can identify and resolve issues with loans before they become [Read More]

SouthLaw Hires Two Associate Attorneys For Its Iowa Foreclosure Department

Posted by Patrick Barnard on February 22, 2017

SouthLaw PC, a law firm servicing the mortgage default servicing industry, recently hired two new associate attorneys for its Iowa Foreclosure Department located in the firm’s West Des Moines, Iowa, office. James J. Larson, who joined the firm in January, [Read More]

MetaSource Deepens Its Mortgage Offerings With Acquisition Of Orion Financial Group

Posted by Patrick Barnard on February 21, 2017

In a move that will expand and add depth to its existing lien release offering, business process outsourcing firm MetaSource is buying Dallas-based assignment, lien release and document retrieval firm Orion Financial Group for an undisclosed sum. MetaSource, which acquired [Read More]

myCUmortgage Launches Its Own Servicing Operation

Posted by Patrick Barnard on February 21, 2017

myCUmortgage, a credit union service organization wholly owned by Wright-Patt Credit Union, has launched a new mortgage servicing operation that focuses not only on relationship building, but also on superior member service, resulting in greater member retention. Basically, the company [Read More]

S&P/Experian: Mortgage Default Rate Up Slightly In January

Posted by Patrick Barnard on February 21, 2017

The default rate for first mortgages was 0.72% in January – up from 0.71% in December but down from 0.84% in January 2016, according to the S&P/Experian Consumer Credit Default Indices. The default rate for second mortgages was 0.48%, up [Read More]

SLK Global Introduces Real Estate Tax Services

Posted by Patrick Barnard on February 20, 2017

SLK Global Solutions, offering technology solutions for the banking, mortgage and title industries, has launched a new product for mortgage servicers called RETS (real estate tax services). The “client-centric” tax service is for commercial and residential portfolios. “Property tax assessment [Read More]

Freddie Mac Auctioning More NPLs

Posted by Patrick Barnard on February 20, 2017

Government-sponsored enterprise Freddie Mac is auctioning about $759 million in nonperforming loans (NPLs). The NPLs are being marketed via five pools: four standard pool offerings (SPOs) and one Extended Timeline Pool Offering (EXPO), which targets participation by smaller investors, including [Read More]

Mortgage Servicer Ocwen Settles With California Department Of Business Oversight

Posted by Patrick Barnard on February 20, 2017

Mortgage servicer Ocwen Financial will pay a fine of $25 million and will deliver about $198 million in debt forgiveness through loan modifications to California borrowers over a three-year period as a result of a settlement the company has reached [Read More]

Mortgage Servicing Industry Seeks To Standardize The Loan Modification Process

Written by Patrick Barnard on February 18, 2017

Can Quicken Loans do for mortgage modifications what it did on the front end for originations via Rocket Mortgage? During a lively panel session presented during the Mortgage Bankers Association’s (MBA) annual National Mortgage Servicing Conference & Expo 2017 in [Read More]