Servicing

Meanwhile, 707,104 mortgages remain in forbearance, accounting for a combined $136 billion in unpaid balances.

But the company turned its first full-year profit since 2013.

The company has been working to improve its bottom-line results by aggressively cutting expenses and repositioning its servicing operation to maximize its profitability, according to CEO Willie Newman.

The number of properties in limbo is up 10.3% from the same time last year, according to Attom Data Solutions.

The New Jersey-specific case could be a sign of how the combined effect of federal debt-collection rules and state regulations may further complicate a compliance-sensitive environment for the industry.

However, all but one company did less business in the most recent period than during the third quarter, and new insurance written was down across the board compared with one year prior.

However, while the national average is not too far from its decade-low of 5.4%, the range found in different states varies considerably.

The move takes on heightened importance given Mr. Cooper’s recent purchase of a 20% stake in Sagent, which suggests companies handling mortgage payments are relying more on automation to be competitive.

The total percentage of loans that were not delinquent or in foreclosure rose slightly to 94.91% in January.

Raising rates and running down the balance sheet “will bring down inflation over time," she said.