Servicing

The Consumer Financial Protection Bureau argues borrowers in the case had a right to answers even if the inquiries were origination related and foreclosure litigation was pending.

The move would align the Federal Housing Administration with other agencies, including Fannie Mae, Freddie Mac, the USDA, and the National Credit Union Administration.

Laws in at least a dozen states allow municipalities or investors to acquire valuable property to satisfy tax liens far below the asset’s value, a legal organization said.

Now that rates are up and originations are down, mortgage servicing rights can be an increasingly important source of cash and customers for lenders.

The new futures contracts can be used to mitigate risk on both the origination pipeline and the mortgage servicing portfolio.

The scheme highlights a risk that could grow as distressed borrowers exit forbearance.

The Federal Housing Administration confirmed the exclusion of real estate taxes and hazard insurance premiums, and discussed timelines.

The year-over-year increase in reports was the largest in several years for both lending/finance companies and government-sponsored enterprises, according to the Treasury Department’s Financial Crimes Enforcement Network.

The permanent staff reductions appear to be concentrated in originations, where pretax income has been lower and outpaced by earnings generated by the servicing division, in line with broader industry trends.

More than half of the seriously delinquent mortgages that did not have this type of payment relief were originated prior to ability-to-repay requirements enacted following the Great Recession, the latest Federal Reserve Bank of Philadelphia study found.