Servicing News from National Mortgage News

The government-sponsored enterprise has reportedly added a new vendor to a test in which it buys certain loans without title insurance or attorney opinion letters.

Lenders and other businesses active in the state also stepped up with large donations and charitable campaigns in the days following the flooding disaster.

Onity Group's Jack Cavanagh describes how data science has changed processes in the mortgage industry and what type of misconceptions still exist about AI.

As the housing market cools, a rise in delinquency rates and underwater mortgages could be a foreboding sign for the future.

The pace of revenue growth slowed toward the end of 2024, with the trend continuing into the first three months of this year, NAHB reported.

Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.

Newrez is suing Shellpoint Mortgage Servicing LLC for using a name that looks like one it has utilized as a d/b/a, which it says has caused confusion.

The inability or unwillingness to make needed renovations affects mortgage servicers by diminishing the value of their real estate collateral for the loan.

A Consumer Financial Protection Bureau "waives any alleged noncompliance" by the mortgage company while continuing to dole out redress to borrowers.

The new integration supports the upcoming Uniform Appraisal Dataset 3.6, which becomes available in September, with mandatory use 14 months later.

Policymakers technically closed the relief program in May because of concerns it was too costly, but it does have a soft phaseout for grandfathered trial mods.

Foreclosure prevention at the government-sponsored enterprises and Federal Housing Administration is less expensive than the alternative, two studies show.

While consumer distress in auto and personal loans also picked up, the pace of growth among mortgages was atypical, Vantagescore's monthly credit gauge said.

Subservicer Cenlar moved into the O'Fallon, Missouri offices Citigroup's mortgage business occupied until the latter deemphasized servicing in 2017.

Nonbank mortgage companies are regulated on the state level, but multistate examinations allow for virtual nationwide and industry-wide coverage.

The gap between costs and wages hit an inflection point and policy may determine what happens next, according to the Harvard Joint Center for Housing Studies.

Foreclosure activity surged in the first quarter, underscoring the growing need for borrower support as certain federal protections expired.

Mortgage rates are expected to remain elevated but stable for longer, with some industry participants thinking it is good for the housing market.

Legislation passed in Connecticut protects homeowners from foreclosures tied to old liens that received renewed collections interest as housing values surged.

The publicly traded company will become privately held as part of the all-cash servicer-lender acquisition, with a $20-per-share payout to common stockholders.