Mortgage Servicing News

READY? "We've got a lot of experience of managing the transition from the revolving period to the payment period and we've had reasonably good success," First Horizon CEO Bryan Jordan said.

Regionals Face Heightened Risk on HELOC Resets

Banks have made progress cutting their exposure to risky home equity lines of credit, ahead of a key 10-year threshold when billions of dollars of them will reset to higher monthly payments. But there are some prominent exceptions, especially among regional banks.

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California Regulators Seek Independent Auditor for Ocwen

The California Department of Business Oversight is accepting applications until Feb. 20 from firms or individuals with experience with the California Residential Mortgage Lending Act and California Homeowner Bill of Rights.

People Movers of the Week: Jan. 30

Mortgage professional hiring and new job appointments for the week ending Jan. 30.

Philadelphia Region's Single-Family Home Prices Fell in 4Q

Residential real estate in the Philadelphia region saw falling prices and modestly rising sales in 2014's fourth quarter.

$1 Billion Foreclosure Prevention Plan Lagging in Florida

Four years into a $1 billion foreclosure prevention plan, Florida is not getting enough money into the hands of struggling homeowners and has enrolled fewer than 100 people into one of its five programs.

TCF Faces 'Tough' Writedowns to Sell Off Crisis-Era Mortgages

TCF Financial took $44 million in charges to rid itself of mortgages made before the housing collapse. A distressed-asset investor purchased more than $400 million in loans from the company, and another pool of bad mortgages may be marked for sale soon.

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FHA Offers HECM Foreclosure Relief to More Non-Borrowing Spouses

South Florida Housing Market Closing in on Stable Range: Freddie

Philadelphia Collects More from Foreclosures, Tax Seizures

Forbearance Confusion Has Gone on Too Long

Two Landlords Settle with St. Paul in Federal Housing Case

From Our Blogs

Shashank CM is servicing solutions leader at ISGN.

It's Time to Revisit Subservicing

Before the Dodd Frank Act went into effect in 2010, the residential mortgage market was in an entirely different state — particularly in regards to servicing. Several large servicers dominated the market, but ultimately shed most of their servicing assets, creating a substantially large segment of midsize servicers.

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Ocwen Settles with California Regulators for $2.5 Million

California's Department of Business Oversight said Friday that it will drop its effort to suspend Ocwen Loan Servicing's mortgage license in California. The Atlanta servicer had failed for more than a year to provide its California regulator with requested information

Alongside his new tasks as Altisource's chief revenue officer, John Vella will continue his executive leadership role at Equator, its default servicing technology business

Altisource Adds Chief Revenue Officer to Ease Reliance on Ocwen

Altisource Portfolio Solutions promoted John Vella to the new position of chief revenue officer in a bid to grow beyond its relationship with embattled former parent Ocwen Financial.

What's Really Holding Back Access to Credit

While put-backs and litigation risk are widely recognized as factors that have contributed to tight credit conditions, another factor — high servicing costs for nonperforming loans — is being overlooked.

Debt Collection Law Warped by New Breed of Suits

Borrowers who are being sued by lenders over the money owed on foreclosed mortgages are making novel use of the Fair Debt Collection Practices Act. They argue that they cannot be sued if they live in a state different from the one where the property is located.