Servicing news
Mortgage industry hiring and new job appointments for the week ending July 29.
Impac Mortgage Holdings reported a year-over-year drop in net income during the second quarter as a more substantial loss on mortgage servicing rights and costs related to the CashCall Mortgage merger weighed on earnings.
The rate of foreclosures among outstanding mortgages in the Sarasota-Manatee, Fla., area stood at 1.42% in May.
Fannie Mae has released historical performance data on a portion of its modified single-family loans.
Taking a good-sized bite out of blight is the idea behind a collaboration of Evansville, Ind., city officials and nonprofit housing groups who will tear down or renovate a string of vacant, dilapidated houses.
Chronos Solutions has acquired Spokane Valley, Wash.-based UPF Services, marking its fourth acquisition in just over a year a half.
Fannie Mae has selected Corona Asset Management XVIII as the winner of its fourth and latest "community impact" pool of nonperforming loans.
Ocwen Financial Corp. posted yet another net loss during the second quarter, this time reflecting the impact of legal and settlement costs among other factors.
Mortgage servicers should concentrate on providing a better experience for borrowers because customer retention benefits outweigh the costs, a J.D. Power survey found.
The foreclosure rate in the San Antonio-New Braunfels area declined in May to its lowest point since at least 2009, remaining well below the rest of the nation.
Quarterly profit at CIT Group plunged after the in Livingston, N.J., company recorded $167 million in charges tied to its discontinued reverse-mortgage servicing unit.
The Consumer Financial Protection Bureau released a plan Thursday to overhaul the debt collection industry that would limit collection attempts to six per week and require confirmation of a debt before contacting consumers. The plan, however, is not yet directed at banks and credit card companies.
A lawsuit brought by the City of Miami has the potential to determine the reach of legal actions brought against lenders under the Fair Housing Act.
Walter Investment Management Corp. subsidiary Ditech Financial plans to lay off more than 100 employees in North Carolina and Texas following declines in defaults across the country.
As if high default costs haven't been challenging enough for mortgage servicers, a growing number of seriously delinquent loans are Federal Housing Administration products, which require significant upfront investment to resolve.
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