Servicing

The MISMO protocols are aimed at ensuring nothing is lost in translation when information about billing, late payments and related processing moves to a new system.

States have the option of adopting the oversight framework issued by the Conference of State Bank Supervisors, which resembles capital and liquidity plan proposed by the Federal Housing Finance Agency.

The potential amendments could expand coverage but also add new record-keeping and systems requirements for large banks handling custodial accounts.

The guarantor has for the first time proposed a risk-based capital requirement for companies not subject to other federal regulation. The industry says the plan, which would impose a heavy charge for servicing portfolios, could drive lenders away from government-backed programs.

The money’s distribution is really the states’ responsibility and mortgage companies already have a lot to juggle, but their involvement is essential to forbearance outcomes, according to a former HUD official.

The plan aims to cut monthly payments by roughly 25% for homeowners in government-backed mortgages who are negatively impacted by the pandemic.

The relatively low share of borrowers who were distressed in June adds to signs that the offramp from government relief measures may not lead to an overwhelming wave of foreclosures.

The meager increase suggests the largest boost in inventory possible would likely still leave the backlog of homes on the market at historic lows.

The cloud IT provider for settlement services companies has no timeline on when services will be restored following its shutdown Friday.

The proposed acquisition comes just days after Better.com announced plans to buy London-based online loan broker Trussle Lab.