Archive for 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]

New Unit Encompasses Correspondent, Warehouse And Capital Markets

Posted by Michael Bates on June 19, 2017

Mortgage originator and servicer Home Point Financial Corp. has formed its new Institutions Group, which comprises correspondent lending, capital markets and Home Point’s wholly-owned warehouse lending subsidiary, NattyMac. “With the introduction of our Institutions Group, we have a structure and [Read More]

Barry Malone: Customers Appreciate Having Their Loans Serviced By Their Original Lender

Written by Patrick Barnard on June 09, 2017

PERSON OF THE WEEK: Barry Malone is senior vice president of sales for Financial Industry Computer Systems Inc., a provider of mortgage loan origination and mortgage servicing software. MortgageOrb recently interviewed Malone to learn more about the challenges of in-house [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]

USRES Hires Tiffany Malm-Ruiz To Oversee REO Division

Posted by Patrick Barnard on June 07, 2017

Tiffany Malm-Ruiz has joined USRES, a provider of real estate owned (REO) asset management, default management and valuation solutions to the mortgage industry, to help manage the firm’s REO division. Malm-Ruiz has extensive experience in default mortgage servicing and asset [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]

Barry Hays: Servicers Must Reinvent Their Call Centers For Multichannel Millennials

Written by Patrick Barnard on May 30, 2017

PERSON OF THE WEEK: If you’re a mortgage servicer, you can safely assume that live phone communications with borrowers will become much less prevalent in the future. That’s because younger borrowers – millennials included – are much more inclined to [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]

What Are Mortgage Companies Doing To Help Borrowers With Limited English?

Posted by Patrick Barnard on May 26, 2017

“What?” The Federal Housing Finance Agency (FHFA) is seeking feedback from mortgage lenders and servicers to learn more about what they are doing to help mortgage borrowers with limited English proficiency (LEP). The goal is to learn more about the [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]

Damon Paxson: When It Comes To The HOA/COA Lien Process, Misconceptions Abound

Written by Patrick Barnard on May 24, 2017

Servicers must fully understand the complexities behind working with HOA/COA properties so they can protect themselves from having to pay unnecessary fees.

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]

Conferences: How Prepared Are You To Make The Most Of Them?

Written by Barry Hays on May 22, 2017

BLOG VIEW: Like the swallows returning to Capistrano, most of us have annual pilgrimages that mark the seasons. We call them conferences. The mortgage industry is fortunate to have some of the best annual conferences of any business sector in [Read More]

MBA: Mortgage Delinquency Rate Continued To Fall In Q1

Posted by Patrick Barnard on May 17, 2017

The mortgage delinquency rate (30 days or more past due) as of the end of the first quarter stood at about 4.71%, down nine basis points compared with the previous quarter and down six basis points compared with the first [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]