Servicing

The bank saw a modest increase in net income from the first quarter, as lawsuit settlements tied to the company’s discontinued home lending business and fees regarding an anti-money laundering and securities class action suit continue to limit growth.

The proposal should be withdrawn or reworked around the needs of small players they impose a disproportionate burden on, the Community Home Lenders Association said.

The bureau said two rules related to communications with debtors will go into effect as originally planned on Nov. 30. The agency had previously proposed an extension to consider consumer advocates' concerns about the regulations.

However, 8% fewer borrowers are still in a plan compared with a month ago, Black Knight said.

The Federal Housing Administration, the agency that oversees government-sponsored enterprises Fannie Mae and Freddie Mac, and the VA extended additional relief to those living in single-family rental, real-estate owned properties.

The REIT also reveals plans to expand in the single-family rental market with a new brand and target of $5 billion in acquisitions over five years.

The company’s results included some transitory revenue sources, including early buyouts of loans in forbearance from securitized pools, but executives plan to maintain growth over time through economies of scale.

Borrowers reacted positively to the increased interaction and engagement resulting forbearances and payoff requests, J.D. Power found.

Two large government-sponsored enterprises added a notification period for tenants in collateral properties on Wednesday while a trade group and public agencies stepped up efforts to connect renters with aid.

The bank produced $1 billion less in originations while its gain on sale fell 49 basis points from the first quarter.