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A plea for the Federal Housing Administration official to finish clarifying the rights of spouses unnamed on Home Equity Conversion Mortgages before she leaves office.
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PennyMac became the third largest correspondent aggregator after banks turned their back on the mortgage origination channel. With banks now increasingly shedding servicing rights, PennyMac is poised to make a similar play in servicing.
Not every distressed borrower can, will or should get a modification. But in cases where they make sense, mod decisions should be swift and significant.
Moody's Investors Service downgraded two servicer ratings for Ocwen Loan Servicing, reflecting additional scrutiny by regulators and concerns about the nonbank mortgage servicer's ability to ensure timely payments to bondholders.
To this day, servicers are still stunned by a speech given several months ago by Deputy CFPB Director Steven Antonakes in which he declared that
A bulletin from the Consumer Financial Protection Bureau outlining new policies for mortgage servicing transfers has the industry on alert for another possible round of rulemaking coming down the pike.
PROGRESS:
President Obama announced an initiative Tuesday with several large banks and mortgage servicers designed to make it easier for members of the military and their families to lower their mortgage payments.
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