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 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]
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]
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]
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]
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 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 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]
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]
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?” 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]
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.
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]
Servicers must fully understand the complexities behind working with HOA/COA properties so they can protect themselves from having to pay unnecessary fees.
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]
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]
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]
However, there were certain states where foreclosure starts ticked up compared with a year earlier.
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]
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]