Servicing News from National Mortgage News

Mortgage lenders with servicing operations will have more access to automation that cancels surety bonds soon and will need a new registration to accommodate it.

The lawsuit accuses Village Capital of failing to pay full price for servicing assets and refusing to reimburse Change for a large Ginnie Mae payment.

By looking at the payment-to-income ratio on credit cards, as well as student loans and HELOCs, Transunion says servicers can predict future delinquency trends.

Borrowers argued the servicer's $25 charge for expedited payoff quote statements is a "junk fee" and violates federal and state consumer protection laws.

The government-sponsored enterprises' oversight agency will require the merging mortgage giants to have "appropriate financial and operating safeguards."

The accusations could have broader implications for secondary market supervision as technology potential improves the speed at which detection can occur.

Fed cut talk fuels hopes of lower mortgage rates. A drop could expose multiple buckets of $200B–$300B in MBS to refi risk, shifting the mortgage market.

A Redfin survey found that no matter what age demographic, owners are in a better situation to make their payments compared to renters.

Here's what industry experts have to say about a risk that a housing regulator has spotlighted through referrals that have led to high-level allegations.

While the overall delinquency rate improved this summer, FHA-backed mortgage borrowers continued to exhibit concerning levels of payment stress in July.

The share of investor-owned properties sitting empty is greater than the vacancy rate for the nation's housing market, according to Attom Data Solutions.

Two Harbors' agreement with Pine River resolves a case over wrongful termination that the REIT was already found liable for by a federal court.

Nonbank lenders saw production income surge, returning to the black for the first time in three quarters, according to the Mortgage Bankers Association.

Borrowers affected by the blazes are also reeling from homeowners insurance woes, contractor shortages and inflation making rebuilding difficult.

The tests modeled how Fannie Mae and Freddie Mac would fare after absorbing losses like a total $36.1 billion provision in credit losses in a severe downturn.

The since-defunct lender, which was purchased by Newrez in 2021, agreed to pay a $1.8 million penalty and has refunded over $550,000 to borrowers.

While overall performance looks solid, the data shows the weight of economic concerns may be weighing on some borrowers, the Mortgage Bankers Association said.

Fannie Mae has issued guidelines for how mortgage companies should apply temporary buydown funds in workout situations and clarified notification requirements.

Between rising home costs and the end of mortgage relief programs, many homeowners are struggling to stay above water, especially in the South and West.

Whittemore and his team are working to help the company handle both growth and diverse loan types, including non-QM, RPLs and NPLs.