Servicing

Ratings jumped largely because white-collar workers have raced to take advantage of the lowest mortgage rates in history.

Senate Majority Leader Chuck Schumer said he planned to move Tuesday to file a discharge petition to move Chopra’s nomination out of the Senate Banking Committee and onto the Senate floor.

Portfolio and private-label loans declined significantly, while conventional GSEs also reduced their share of forborne borrowers

Following completion of this sale and that of the valuation business, Xome will focus on real estate auction and asset management.

At current levels, outstanding forbearance could fall to one-fourth of its high by next month, Black Knight’s data suggests.

The Department of Housing and Urban Development increased the share of reverse mortgage assets it will give community organizations a first crack at, in line with goals of the Biden administration.

Critical defects fell as well, but the percentage that are related to income or employment concerns set a new record, surpassing the one set in the second quarter of last year.

Fitch Ratings’ second quarter numbers suggest even those facing some of the highest repayment hurdles may have been motivated enough by economic improvement to exit before many expirations were due.

Elizabeth Warren asked the Federal Reserve this week to force the spinoff of the bank’s nonbanking operations. Wells, which was recently hit with another $250 million fine, countered that it has made significant progress in improving its risk management and addressing misconduct.

The number of borrowers leaving plans outweighed a smaller uptick in new requests and re-entries.