Servicing news
Mortgage professional hiring and new job appointments for the week ending Nov. 27.
Three county governments in metro Atlanta have sued Bank of America for engaging in the practice of equity stripping, where the bank targeted minority borrowers with high-interest mortgage loans.
No two mortgage servicing rights portfolios look the same, and buyers have strong opinions about the kinds of deals they want to do. Here are some factors that can swing MSR transaction values, according to Matt Maurer, managing director at MountainView Capital Holdings.
The Federal Housing Administration's annual financial report demonstrates the outsized influence of reverse mortgages on the performance of its insurance fund, fueling a debate about whether those loans belong there.
The rate of delinquencies in mortgage loans fell in October, on both monthly and yearly comparisons, according to Black Knight Financial Services.
Fannie Mae has introduced an improved online data portal, which users can customize to receive reports on loan servicing, pricing and other areas.
Mortgage professional hiring and new job appointments for the week ending Nov. 20.
Cenlar FSB, the nation's largest mortgage subservicer, will open a loan-servicing center in Tempe, Ariz.
From single-point-of-contact requirements to the need for better self-service options, servicers surveyed by National Mortgage News are taking a much-needed hard look at the full range of customer touch-points that they operate.
In one instance, a single complaint in the Consumer Financial Protection Bureau's database was counted as 35 different ones while in another, a complaint against a payday lender was filed against an unrelated bank. Current and former officials say that's par for the course, leading to inflated complaint numbers and inaccurate data.
Default rates on various types of consumer loans improved in October, according to Standard & Poor's and Experian.
Delinquencies on residential mortgages in the third quarter declined on a national recovery in housing prices and other factors, according to the Mortgage Bankers Association.
The number of underperforming loans transferred to special-servicing status dropped in October, according to Fitch Ratings.
Mortgage delinquency rates continued their double-digit yearly declines in the third quarter, according to TransUnion.
Mortgage professional hiring and new job appointments for the week ending Nov. 13.
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