Mortgage Servicing News

"In some cases, we heard from consumers who said they could not even reach anyone at a company once they had paid the initial fee," said Steve Antonakes, the CFPB's deputy director.

Dozens of Mortgage Relief Firms Cited by CFPB, States Over Mod Scams

Two federal agencies and 15 states have taken more than 40 actions against foreclosure relief operations, alleging the firms charged distressed borrowers millions of dollars in fees without following through on service.

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Risk Management

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PHH's CEO Messina Also to Head Mortgage Unit

Since PHH is now a pure-play mortgage company, it made sense to have just one executive running the business, industry experts said.

Regions Bank Joins Fannie Multifamily Program, Acquires Portfolio

Regions Bank in Birmingham, Ala. has been approved as a Fannie Mae Delegated Underwriting and Servicing multifamily lender and acquired the servicing on a $1 billion Fannie apartment loan portfolio.

Vote for the 2014 Lenders' Choice MT Award

The online ballot is now open for mortgage lender and servicing professionals to vote for their favorite technology and services vendors.

MGIC Names Sinks CEO as Mortgage Insurer Capital Rules Loom

MGIC Investment Corp. promoted Patrick Sinks to chief executive officer as the mortgage insurer looks for ways to raise capital to meet new industry standards proposed by a U.S. regulator.

JPM Makes Small Dent in Consumer Relief: Settlement Monitor

The official in charge of monitoring JPMorgan Chase's $13 billion settlement with bank regulators released his initial progress report this week.

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FHA Tries to Lure Back Banks with New Review Process

Despite 2H14 Surge, Economic Growth Will Be Weaker Than '13: Fannie

Foreclosure Inventory Down 36%, Black Knight Reports

FormFree Wins Patent for Automated Asset-Verification System

Calif. Law Covers Lapse in Mortgage Forgiveness Tax Protection

From Our Blogs

ON HER RADAR: "The institutionalization of the single-family rental market…merits close monitoring,” says Rep. Maxine Waters, ranking Democrat on the House Financial Services Committee.

Housing Groups Criticize Single-Family Rental Investment Firms

Advocates blame the securitization-financed, institutional-scale landlords for astronomical rents and poor maintenance and call for Congressional hearings and government oversight.

Servicing

Risk Management

Double-Whammy Coming When HELOCs, Loan Mods Reset in 2015

Borrowers with a first-lien modification and home equity line of credit could face a spike in their monthly mortgage obligations when the interest rates on both loans reset next year.

Ocwen Repurchases $72.3M in Stock from WL Ross

Ocwen Financial has repurchased approximately $72.3 million in stock from WL Ross & Co., a private-equity firm in New York.

The Evidence Is Clear: Housing Market Headed Back Downward

With mounting indicators clearly showing that the so-called housing recovery was just an illusion, and many housing industry pundits who formerly touted the validity of said recovery now recanting their views, there should be no doubt that we are headed for another/further housing downturn.