Mortgage Servicing

New Approach To Tax Services Minimizes Servicers’ Risk

Posted by Michael Bates on June 21, 2017

LERETA, a national real estate tax and flood service provider, has launched its Additional Parcel Search Solution – a way to improve the identification of additional parcels at the initiation of tax service, thereby reducing portfolio risk. Identifying additional parcels [Read More]

Mortgage Delinquencies Dropped To A 10-Year Low In March

Posted by Michael Bates on June 14, 2017

CoreLogic’s most recent Loan Performance Insights Report shows that, nationally, 4.4% of mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure) in March 2017. This represents a 0.8-percentage-point decline in the overall [Read More]

Mortgage Servicer Fay Servicing Penalized By CFPB For Illegal Foreclosure Practices

Posted by Patrick Barnard on June 07, 2017

The Consumer Financial Protection Bureau (CFPB) has ordered mortgage servicer Fay Servicing to pay up to $1.15 million in redress to borrowers for “failing to provide mortgage borrowers with the protections against foreclosure that are required by law.” The bureau [Read More]

DIMONT Promotes Tom Stover To Chief Solutions Officer

Posted by Patrick Barnard on June 06, 2017

Tom Stover has been promoted to chief solutions officer at DIMONT, a provider of specialty insurance and loan administration services to the residential and commercial mortgage industries. Stover has more than 25 years of experience in the financial services industry [Read More]

Maryland Adopts Fast-Track Foreclosure Law

Posted by Patrick Barnard on June 05, 2017

Maryland Gov. Larry Hogan recently signed into law a fast-track foreclosure bill that will expedite the foreclosure process for vacant properties. Last year, the state of Ohio passed a similar measure, with the intent to reduce community blight. “Blight caused [Read More]

SLK Global Launches New Real Estate Tax System For Mortgage Servicers

Posted by Patrick Barnard on May 31, 2017

SLK Global Solutions has launched a new real estate tax solution for the mortgage servicing industry called Real Estate Tax Servicing (RETS). The new offering caters to both commercial and residential portfolios. “Property taxes still pose a significant challenge for [Read More]

Accumatch Hires Lisa Barlag As Tax Examiner Manager

Posted by Patrick Barnard on May 26, 2017

Lisa Barlag has joined Accumatch, a provider of property tax tracking services for non-escrowed loans, tax reporting and payment services for escrowed loans, and redemption services for delinquent portfolios, as tax examiner manager. Barlag has 25 years of relevant tax [Read More]

S&P/Experian: Default Rate For First Mortgages Fell To Four-Month Low In April

Posted by Patrick Barnard on May 25, 2017

The default rate on first mortgages dropped to a four-month low in April, falling to just 0.69% of loans, which is down from 0.75% in March, according to the S&P/Experian Consumer Credit Default Indices. The default rate on second mortgages [Read More]

FHFA, Fannie Mae Cease Selling REOs To Rent-To-Own Companies

Written by Patrick Barnard on May 24, 2017

Apparently, there is a problem with leasing REOs “as is” and shifting responsibility for repairs and maintenance to the renter in certain “rent-to-own” models.

Black Knight: Mortgage Delinquencies Hit Eight-Year High In April

Written by Patrick Barnard on May 24, 2017

The delinquency rate on first-lien mortgages (30 days or more past due) stood at 4.08% as of the end of April – an increase of 12.93% compared with March but a decrease of 3.58% in April 2016, according to Black [Read More]

USFN To Publish 50-State Successor In Interest Guide

Posted by Patrick Barnard on May 22, 2017

USFN–America’s Mortgage Banking Attorneys and its member firms from across all 50 states will soon be publishing a comprehensive guide and matrix in order to provide mortgage servicers with assistance in navigating the Consumer Financial Protection Bureau’s (CFPB) new successor [Read More]

Foreclosure Starts Fell 6% In April

Posted by Patrick Barnard on May 11, 2017

However, there were certain states where foreclosure starts ticked up compared with a year earlier.

Fannie Mae Looking To Sell More RPLs, NPLs

Posted by Patrick Barnard on May 10, 2017

Government-sponsored enterprise (GSE) Fannie Mae is looking to sell another pool of reperforming loans (RPLs) as part of the company’s ongoing effort to reduce the size of its retained mortgage portfolio. The pool of approximately 13,700 loans, totaling $3.036 billion [Read More]

CoreLogic: Loan Performance Continued To Improve In February

Posted by Patrick Barnard on May 09, 2017

The mortgage delinquency rate (30 days or more past due) in February fell to 5.0% of all loans – down from 5.5% in February 2016, according to CoreLogic’s Loan Performance Insights Report. As of the end of February, the foreclosure [Read More]

Safeguard Properties Announces Two Management Appointments

Posted by Patrick Barnard on May 09, 2017

Sheilla Lienerth has joined field services company Safeguard Properties as assistant vice president of client relations. In addition, Lisa Nicholas has joined the company as director of finance and accounting. Prior to joining Safeguard, Lienerth held a variety of leadership [Read More]

Assurant Adds Kevin Raney And Jerry Rowell To Its Management Team

Posted by Patrick Barnard on May 05, 2017

Assurant Inc., a provider of risk management solutions, recently named Kevin Raney managing director of Assurant Valuations and Mortgage Technology, under the company’s Mortgage Solutions group. Separately, the company recently named Jerry Rowell managing director of Assurant Field Services, also [Read More]

Black Knight: 19% Of Active HELOCs Scheduled To Reset This Year

Posted by Patrick Barnard on May 05, 2017

Since 2014, people in the mortgage servicing industry have been trying to forecast whether there will be a surge of defaults on the many home equity lines of credit (HELOCs) that are scheduled to reset over the next year or [Read More]

‘Seriously Underwater’ Rate Increased In Q1

Posted by Patrick Barnard on May 05, 2017

Despite the fact that the average U.S. home price increased during the first quarter, the number of homeowners who were “seriously underwater” on their mortgages jumped, due mainly to the many depressed pockets across the country where home appreciation has [Read More]

Keith Noreika To Serve As Acting Comptroller Of The Currency, Replaces Thomas Curry

Posted by Patrick Barnard on May 03, 2017

Keith A. Noreika will serve as acting comptroller of the currency, filling in for departing Comptroller of the Currency Thomas J. Curry, who will be leaving the position on May 5. “Serving as comptroller of the currency has been the [Read More]

Mid America Mortgage Acquires MSR Portfolio With About $2.7B In UPB

Posted by Patrick Barnard on April 28, 2017

Mid America Mortgage reports that it has acquired mortgage servicing rights (MSRs) on a portfolio of government loans with about $2.7 billion in unpaid principal balance. Terms of the deal were not divulged. A company press release does not say [Read More]