Servicing

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.

The total number of loans in this category dropped 11 basis points from week to week according to the Mortgage Bankers Association. Meanwhile, the amount of unpaid balance in forbearance dropped almost 23% since the start of the year, a separate report from Black Knight found.

The defendants face 133 felony counts that include allegedly stealing identities to commit mortgage fraud between 2014 and 2020, resulting in the theft of $15 million.

The agreement, which is extended for five years, also expands upon the delinquent mortgages services Altisource will provide to Ocwen.

While cash-out refinances were a “significant driver” of risky loans leading to the Great Recession, those mortgages pose less of a threat due to tighter underwriting standards, according to Milliman.

The company aims to use the additional capacity to get its non-qualified mortgage business back to producing $125 million per month, and anticipates more purchases of mortgage servicing rights, representatives said in its Q1 earnings call.

An economic rebound, stimulus payments and COVID-19 vaccinations contributed to new delinquencies dropping to an all-time monthly low with more recovery ahead, according to Black Knight.

The complaint exemplifies the Department of Housing and Urban Development’s focus on “fair servicing” in addition to fair lending.