Servicing

Cuts on one side of the business are creating a ready-made, knowledgeable pool of workers for servicers as demands on the latter's operations are increasing.

A new wave of interest in partnerships between investors and mortgage companies is emerging.

Such exchanges are neither easy nor cheap and the key to any effective transfer process is accurate loan file information, writes Paradatec's director of professional services.

California has been more typically prevalent in other offerings, but this nearly $817 million package of rights to borrowers’ payments is one exception in a hot market limited only by capacity constraints.

The opinion heightens the need for servicers to be careful about billing communications, particularly when a distressed loan or foreclosure is involved.

But for prospective buyers, soaring home prices in April pushed affordability closer to the all-time low set in June 2006.

The inability to include both types together in standard loan pools has been one of the hurdles to the adoption of digital collateral.

A Salem, Massachusetts, man was found guilty by a federal jury in Boston of a scheme that led to more than $3.8 million in losses to lenders, the U.S. Attorney's Office announced.

However, higher property values are likely to mitigate any potential large increase in abandonments because troubled borrowers are less likely to walk away.

The effects on nonbanks will depend on the mix between their production and servicing operations, Fitch Ratings said.