Archive for mortgage servicing

The Risks Associated with Unpaid Utility, Fire District and Sewer Bills

Posted by Karen Stephens and Jessica Phoonphiphatana on August 09, 2017

Simply making your borrowers aware that these types of bills are not escrowed could prevent problems.

LoanCare Renews Black Knight Contract For LoanSphere MSP Servicing System

Posted by Lauren Tyler on August 04, 2017

Black Knight Financial Services Inc. has announced that LoanCare, a national full-service residential subservicer and ServiceLink company, has signed a seven-year renewal to continue using Black Knight’s LoanSphere MSP, its end-to-end servicing system used by financial institutions to manage the servicing processes [Read More]

Potestivo Hires Two New Attorneys

Posted by Patrick Barnard on July 27, 2017

Kimberly S. Morr recently joined Potestivo & Associates PC, as an associate attorney in the law firm’s St. Louis, Mo., office. In addition, Jeremy L. Marks has joined the firm as supervising bankruptcy attorney. He will work out of the [Read More]

DIMONT Announces Two New Hires, Two Promotions, As It Focuses On Client Development

Posted by Patrick Barnard on July 27, 2017

Holly Baya and Anthony Di Staulo have joined DIMONT, a provider of insurance claims adjusting and collateral loss mitigation services to the mortgage industry, as directors of client development. In addition, Dwight Kline has been promoted to director of client [Read More]

Steve Thomas: 20 Years Strong, MPF Program Continues to Build on Its Success

Written by Patrick Barnard on July 27, 2017

The Mortgage Partnership Finance program, originally formed as a business line of the Federal Home Loan Bank of Chicago, has increased dramatically in the post-recession era.

Cade Holleman Joins U.S. REO Partners As Executive Director

Posted by Patrick Barnard on July 26, 2017

Cade Holleman, formerly of American Legal & Financial Network (ALFN), has joined U.S. REO Partners Inc., a national trade association representing real estate-owned (REO) brokers, mortgage servicers, default services law firms, as well as other ancillary service providers in the [Read More]

Safeguard Promotes Two On Its Technology Management Team

Posted by Patrick Barnard on July 26, 2017

Mortgage field services company Safeguard Properties recently promoted two executives on its technology management team. Steve Machovina has been promoted to assistant vice president of technology infrastructure and cloud services. Machovina joined Safeguard in November 2013 as director of information [Read More]

Mortgage Servicer Ocwen Inks Major MSR Deal With New Residential

Posted by Patrick Barnard on July 25, 2017

“This is a great transaction for both companies, and we are extremely pleased to announce our new strategic partnership.”

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]

A Primer on Subservicing Relationships

Posted by Allen Price on July 19, 2017

Organizations that are looking for mortgage servicing partners can assess a handful of key factors.

1 Million JPMorgan Chase Loans Moved to LoanSphere MSP

Posted by Michael Bates on July 12, 2017

Black Knight Financial Services Inc. says it has completed the conversion of more than 1 million home equity and private banking loans onto its LoanSphere MSP servicing system for JPMorgan Chase. JPMorgan Chase also implemented LoanSphere Loan Boarding, a tool [Read More]

Richard Yonis: Tax and Flood Missteps Can Be Costly

Posted by Michael Bates on July 10, 2017

PERSON OF THE WEEK: Richard Yonis is senior vice president and national sales director for LERETA, which provides property tax data and flood hazard status information to mortgage lenders and servicers. MortgageOrb talked to Yonis to gather his thoughts about [Read More]

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]