Archive for loan servicing

Ellie Mae: Expanded Construction Lending Support Shrinks Time To Close

Posted by Lauren Tyler on August 01, 2017

Ellie Mae announced today that it has seen significant decreases in the time to close construction-to-permanent loans since the February 2017 launch of its comprehensive construction lending support within its Encompass mortgage management solution. Additionally, Ellie Mae says it has [Read More]

DataVerify Integrates With Ellie Mae’s Encompass, TQL Program On Tax Transcripts

Posted by Lauren Tyler on August 01, 2017

DataVerify, a provider of risk mitigation and verification services, is now offering an automated process that populates required data elements for submission of 4506-T IRS tax transcript information to the Fannie Mae Day 1 Certainty data validation service through the [Read More]

Ellie Mae’s New Encompass 17.3 Includes HMDA Collection, Reporting Updates

Posted by Lauren Tyler on July 31, 2017

Ellie Mae has launched a new release of Encompass, its all-in-one mortgage management solution, to help lenders of all sizes originate more loans, lower origination costs and shorten the time to close with efficiency and compliance. Specifically, Encompass 17.3 includes additional [Read More]

Black Knight: Low Interest Rates Continue To Push Prepayments Higher

Posted by Patrick Barnard on July 24, 2017

Low interest rates continued to push prepayments higher in June, according to Black Knight Financial Service’s “First Look” report. The prepayment rate in June was 1.12%, an increase of 5.3% compared with May, according to the report. It was the [Read More]

Ocwen Facing Some Renewed – Even Recycled – Actions

Posted by Nora Caley on June 14, 2017

The servicing giant is defending itself against familiar-sounding complaints and actions.

S&P/Experian: First Mortgage Default Rate Hit One-Year High In March

Posted by Patrick Barnard on April 24, 2017

The default rate on first mortgages was about 0.75% in March – up slightly from 0.74% in February but down from 0.77% in March 2016, according to the S&P/Experian Consumer Credit Default Indices. The default rate on second mortgages was [Read More]

Hope LoanPort Now Integrated With FormFree’s AccountChek

Posted by Patrick Barnard on April 07, 2017

Hope LoanPort (HLP), a nonprofit technology provider for the mortgage industry, has integrated FormFree‘s AccountChek automated asset verification solution into its communication platform. HLP connects consumers, U.S. Department of Housing & Urban Development-certified housing counselors, mortgage lenders, servicers, investors, attorneys [Read More]

Webster Bank Renews Agreement For Black Knight LoanSphere

Posted by Lauren Tyler on January 26, 2017

Black Knight Financial Services (BKFS) says that Webster Bank has agreed to continue its use of LoanSphere MSP, Black Knight’s loan servicing system. According to BKFS, the MSP is a complete, scalable, end-to-end system used by financial institutions to manage all [Read More]

FHFA: Mortgage Rates Increased In December

Posted by Lauren Tyler on January 26, 2017

Nationally, interest rates on conventional purchase-money mortgages increased from November to December, according to the Federal Housing Finance Agency (FHFA). The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 4.00% for [Read More]

loanDepot Funds $100 Billion In Loans Since Launch

Posted by Lauren Tyler on January 25, 2017

National lender loanDepot says it has funded $100 billion in home, personal and home equity loans since its inception in 2010. As reported, loanDepot has grown originations on average by 70% annually since 2010 and grown its market share by 400% [Read More]

New American Funding Opens Chicagoland Branch

Posted by Lauren Tyler on November 10, 2016

New American Funding, a national mortgage banker headquartered in Southern California, says it is continuing its Midwestern expansion by opening its first Chicagoland location. According to the mortgage banker, this full-service branch will be located at 1301 W. 22nd St., [Read More]

Equifax Forges Alliance With FormFree For Asset Validation

Posted by Lauren Tyler on October 24, 2016

Atlanta-based Equifax Inc., a global information solutions provider, has joined forces with FormFree, an automated asset verifications solution provider, to establish a new standard for verifications services, improving loan decisioning time in support of lenders and consumers. Specifically, the companies [Read More]

FHA Streamlines Loss Mitigation Process

Posted by Patrick Barnard on August 26, 2016

The Federal Housing Administration (FHA) is proposing significant changes to the requirements mortgage servicers must adhere to when servicing FHA-backed mortgages that have gone into default. The FHA says it is streamlining its loss mitigation processes by reducing the number [Read More]

HOPE NOW: Serious Delinquencies Fell To New Low In February

Posted by Patrick Barnard on May 09, 2016

Mortgage servicers granted a total of about 27,000 loan modifications in February – basically unchanged compared with January and down slightly compared with about 29,000 in December, according to figures recently released by HOPE NOW. Of those, about 19,000 were [Read More]

Parkside Lending Hires Government Lending Expert As SVP

Posted by Patrick Barnard on April 26, 2016

Linda Jacopetti has joined Parkside Lending LLC, a national wholesale and correspondent lender, as senior vice president of government operations to support the company’s growing government lending programs. In this position, Jacopetti will direct the operations and execution of Parkside’s [Read More]

Ditech Converts 1.4 Million Loans To Black Knight’s LoanSphere MSP

Posted by Patrick Barnard on April 25, 2016

Ditech Financial LLC has converted approximately 1.4 million loans from its servicing and subservicing portfolios into Black Knight‘s loan servicing system, LoanSphere MSP. According to Black Knight, MSP offers a single, comprehensive platform to support mortgage loans and home equity products that [Read More]

Stonegate Mortgage Appoints New Company CEO

Posted by Patrick Barnard on April 19, 2016

Stonegate Mortgage Corp., a publicly traded mortgage company focused on originating, financing and servicing U.S. residential mortgage loans, has announced that James V. Smith, previously company president and chief operating officer, has been appointed CEO and president, effective immediately. Richard [Read More]