Servicing

Evaluations for payment reduction still represent a relatively small share of home retention actions but their uptick could add incrementally to servicers’ workloads.

The strength of the housing market helped to increase forbearance exits while minimizing new requests, according to the Mortgage Bankers Association.

Errors created in the loan manufacturing process were partly responsible for the increase in 2020, according to an analysis by Aces Quality Management.

The scheme's victims included an elderly woman and a local title agency that lost $230,000 in the fraudulent property transfer.

So far companies plan on using roughly the same number of employees as they shift from handling payment suspensions to assessing borrowers who have seen long-term declines in their incomes.

The deal will add $7.8 billion in reverse mortgage subservicing to Ocwen $6.7 billion portfolio.

About 20% of the pandemic-related delinquent borrowers are up for review by the end of June, which could lead to vast improvement or deeper financial strife, according to Black Knight.

Consumer-permissioned access to bank or payroll information could be used to evaluate borrowers who still need relief after payment suspensions for pandemic-related hardships end.

Although activity crept down in May from April, it posted “dramatic” increases from the year before, according to Attom Data Solutions.

The guidance addresses confusion related to how lenders should handle situations in which borrowers have not paid for a year and need additional help due to a natural disaster.