Archive for mortgage servicing

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]

Ocwen Vows To Fight Regulatory Actions Brought By CFPB, States

Posted by Patrick Barnard on April 26, 2017

Taking a page from the PHH Mortgage regulatory defense playbook, mortgage servicer Ocwen Financial Corp. is seeking to have a complaint from the Consumer Financial Protection Bureau (CFPB) tossed on the grounds that the CFPB’s leadership structure is unconstitutional. Ocwen [Read More]

HCL Technologies Buying Urban Fulfillment Services For About $30 Million

Posted by Patrick Barnard on April 26, 2017

In a move that will strengthen its capabilities in mortgage BPO services, loan fulfillment and debt servicing, HCL Technologies, a global IT services company, is acquiring Urban Fulfillment Services (UFS), a provider of mortgage business process and fulfillment services, for [Read More]

LenderLive Adds New Management To Its Settlement Services Division

Posted by Patrick Barnard on April 26, 2017

Mortgage industry professionals David Tiberio and George Schultz have joined LenderLive, a national mortgage services provider, each as a vice president of national sales for the company’s settlement services line of business. Schultz has more than two decades of mortgage [Read More]

DIMONT Expands Collateral Loss Mitigation Department

Posted by Patrick Barnard on April 24, 2017

DIMONT, a provider of specialty insurance and loan administration services, has expanded its collateral loss mitigation department. Encompassing all of DIMONT’s services, including hazard claims adjustment, investor claims management, flood insurance valuation and loss draft management, the collateral loss mitigation [Read More]

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]

Black Knight: Prepayment Speeds Bounced Back In March

Posted by Patrick Barnard on April 21, 2017

The mortgage delinquency rate in March was 3.62%, down 14.08% compared with February and down 11.40% to reach the lowest level in 11 years, according to Black Knight’s First Look mortgage report. About 1.8 million properties were 30 days or [Read More]

CFPB Suing Mortgage Servicer Ocwen For ‘Years Of Widespread Errors’

Posted by Patrick Barnard on April 20, 2017

Numerous states also bringing their own separate suits; mortgage servicer says suit is ‘overreach’ and ‘politically motivated’

DLJ Mortgage Capital Acquires Four Pools Of RPLs From Fannie Mae

Posted by Patrick Barnard on April 20, 2017

DLJ Mortgage Capital Inc. is the winning bidder on four pools of reperforming mortgage loans (RPLs) recently auctioned by Fannie Mae. The deal, which was announced on March 14, included the sale of approximately 7,500 loans totaling $1.62 billion in [Read More]

Will That Be Plastic Or Plywood? The New Trend In Blight Control

Written by Nora Caley on April 19, 2017

Fannie Mae changes a rule about securing vacant properties, but experts say blight control is about more than covering windows.

SouthLaw Hires New Associate Bankruptcy Attorney

Posted by Patrick Barnard on April 19, 2017

Lisa C. Billman has joined SouthLaw PC, a law firm focusing on the protection of creditors’ rights in Missouri, Kansas, Nebraska and Iowa, as an associate attorney for the bankruptcy department located in the firm’s corporate office in Overland Park, [Read More]

Foreclosure Activity Fell Below Pre-Recession Levels In Q1

Posted by Patrick Barnard on April 17, 2017

Foreclosure activity in the first quarter fell to the lowest level in 11 years, and the trend is expected to continue into the second quarter, according to ATTOM Data Solutions. The firm’s U.S. Foreclosure Market Report shows that foreclosure filings [Read More]

LRES Hires Mark R. Johnson As Chief Strategy Officer

Posted by Patrick Barnard on April 13, 2017

Mortgage industry veteran Mark R. Johnson has joined LRES as chief strategy officer. Johnson has more than 20 years of executive experience working for various Fortune 500 companies within the mortgage industry. Prior to LRES, he served as division president [Read More]

The Money Source Launches New Platform To Bring Transparency To Subservicing

Posted by Patrick Barnard on April 10, 2017

The Money Source Inc., a rapidly expanding nationwide mortgage lender and loan servicer, has launched Servicing Intelligence Managed Easily (SIME), a new Web-based servicing platform that integrates into legacy systems and dramatically changes how loans are serviced. The new platform [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]

Black Knight: Total ‘Tappable’ Equity Hit $4.7 Trillion In 2016

Posted by Patrick Barnard on April 03, 2017

Rising home prices significantly decreased the number of underwater borrowers and boosted the amount of “tappable” equity that they have in their homes in 2016, according to Black Knight Financial Services’ Mortgage Monitor report. As of the end of the [Read More]

Fiserv’s LoanServ Gets Improved Loss Mitigation, Loan Boarding Capabilities

Posted by Patrick Barnard on March 31, 2017

Fiserv Inc. reports that it has made numerous enhancements to its LoanServ mortgage servicing platform in recent months, including the introduction of Loan Boarding, a new solution that reduces the time it takes to acquire performing and defaulted loans from [Read More]

Black Knight: 4% Of Active Mortgages Are ‘Reperforming’

Posted by Patrick Barnard on March 30, 2017

The number of mortgages classified as “reperforming” – meaning they are currently performing but were previously, at one point or another, more than 120 days delinquent and/or in some stage of foreclosure – has grown to nearly 2 million loans [Read More]

OCC: Mortgage Performance Continued To Improve In Q4

Posted by Patrick Barnard on March 29, 2017

The overall performance of first-lien mortgages continued to improve in the fourth quarter, according to the Office of the Comptroller of the Currency (OCC). About 94.7% of mortgages were current and performing as of the end of the quarter, according [Read More]

New Jersey Community Capital Buys Pool Of NPLs From Fannie Mae

Posted by Patrick Barnard on March 28, 2017

New Jersey Community Capital, a nonprofit community development financial institution, is the winning bidder on a pool of nonperforming mortgage loans (NPLs) with an unpaid principal balance (UPB) of approximately $26 million recently auctioned by Fannie Mae. The Community Impact [Read More]