Servicing

Average per-loan charges last year were little changed despite the addition of a new temporary fee for refinancing. Those for loan-to-value ratios above 80%, home-purchase financing and adjustable-rate mortgages only rose slightly.

But the number remaining was still more than twice as high as pre-pandemic, according to Black Knight.

However, the serious delinquency rate dropped to a point significantly below the market-wide average, and much of the foreclosure activity allowed to proceed did so with new consumer protections in place.

With resources provided through the Homeowner Assistance Fund, the $1 billion plan will help cover homeowners’ past-due payments and comes after New York unveiled a similar assistance package earlier this month.

Further declines occurred in November, albeit at a slower pace than in October, according to a new loan performance report from the Mortgage Bankers Association.

The Servicemembers Civil Relief Act includes extra protections aimed at preventing foreclosure for homeowners in the military.

The 2.5 million-member personal-finance app has saved consumers $100 million-plus since its founding in 2015, and could add a similar amount on an annualized basis to fee income.

The crime highlights the importance of ensuring the integrity of documentation used by lenders to verify loan information at a time when defect risk is rising.

There is no room to unfairly criticize the determination of the Consumer Financial Protection Bureau to properly fulfill its regulatory roll in mortgage servicing, writes the founder of the Maine Attorney Saving Homes program.

Following the announcement of a shift in her political ambitions, Attorney General Letitia James signaled to servicers that she’s watching compliance around pandemic-related mortgage relief closely.