Servicing

The company managed a small profit even though industry-wide challenges were compounded by struggles in its reverse mortgage business lines.

While declining to comment on the pending Black Knight transaction and reporting a decline in earnings from the first quarter, management remains bullish on the home lending business.

The REIT is paying a $10.5 million premium to acquire the company, which will allow it to bring servicing in-house.

Servicing income and cost cutting bolstered the company's earnings, but not enough to prevent a reduction compared to comparable quarters.

But many expect only a slight increase in completions, with the rate at which delinquent mortgages cure outperforming the historic average, according to Auction.com.

CEO Michael Nierenberg hinted at an upcoming partnership, as the rebranded New Residential reported a quarterly loss from residential mortgages plus management internalization costs.

Even though Reverse Mortgage Services violated the Truth in Lending Act by not providing the required disclosures, the borrower cannot get a windfall by keeping the loan proceeds, the Fourth Circuit ruled.

This pool was part of the government-sponsored enterprise's RPL3-2022 transaction but unlike the other two portions, it was not awarded in the initial announcement two weeks ago.

Discrimination claims and data breaches are just some of the issues the industry has faced this year.

New American Funding scored the highest among eligible companies in this year's substantially redesigned measurement of customer satisfaction.