Servicing

The acquisition, which has a $500 million enterprise value, will extend the technology vendor’s capabilities beyond the point of sale into the stubbornly manual electronic closing process.

Also: Fannie sets early limits, servicing retention rates fade to record lows and loan broker inquiries rise as competition heats up.

As an improving job market aided financial stability for borrowers, 2020 ended with drops in delinquent home loans, a CoreLogic report found.

One government agency is committed to collecting new data about foreclosure sale outcomes during the current lull in activity. The industry hopes it won’t lead to developments that bog down work later.

Servicers struggled to bring back their borrowers as the overall retention rate crept down to a nadir in the fourth quarter, according to Black Knight.

A cross-training strategy that hasn’t been widely used since the Great Recession is coming back into vogue among outsourcers.

Federal Judge Kenneth Marra for a second time has granted the mortgage company summary judgment in the case brought by the bureau in 2017.

The agency will allow an additional three months of forbearance for multifamily property loans backed by Fannie Mae and Freddie Mac, as long as tenant protections are offered.

While many lenders have verification processes and systems of record in place for their structured data, they lack digital solutions capable of addressing the volume of customer data from documents that create a broad area of vulnerability for them, writes Reggie Twigg, director of digital enterprise at ABBYY.

The servicer owned by Mr. Cooper agreed to pay a penalty for allegedly failing to provide its clients with clear information on foreclosure and defaults.