Servicing

While last year’s high valuations protected the wealth embedded in consumer residences, a new report suggests that they can also be an indication of rising risk.

The CFPB missives are an early and unmistakable warning that the era of COVID-19 flexibility is over, write two partners and a law clerk from Buckley LLP.

Mortgage forbearances rose for only the second week in the past three months but big drops in numbers could be on the horizon, according to Black Knight.

The individuals allegedly defrauded Freddie Mac and CBRE Capital Markets by misrepresenting information used to refinance a small-balance loan.

The rate of new forbearance requests as a share of portfolio volume also dropped to its lowest point since March, the Mortgage Bankers Association reported.

Numbers fell across the board, with private-label and portfolio loans declining most.

Expansion of an existing translation clearinghouse is among steps that could be taken, the Mortgage Bankers Association suggested in a letter sent to the leaders of the House Financial Services Committee on Wednesday.

Most of the activity covered vacant and abandoned properties or commercial loans, according to Attom Data Solutions.

Unimproved parcels such as empty lots, parking spaces and even driveway lots that are not given a property address are often missed in tax line setups, particularly if the tax service is using technology that speeds up the process, writes the senior vice president of LERETA.

Collectors are mulling a procedural overhaul after a three-judge panel said the practice of using vendors to inform consumers about outstanding debts is illegal. The case may also complicate the CFPB's upcoming rule on electronic messaging.