Servicing

A lender that provided more than $388 million to finance one of Plano's biggest real estate developments has filed to foreclose on the project.

Despite changes by the Federal Housing Administration, bankers remain reluctant to join the program for fear of legal liability. But that could change if it revamps servicing processes, experts say.

A recent earthquake is adding to servicing challenges in Puerto Rico caused by multiple natural disasters, power outages and some companies' insufficient use of technology, according to one vendor.

Every month, the Madison County Sheriff's Department conducts a sale of properties where banks and lending institutions have regained possession.

Former CFPB Director Richard Cordray and consumer advocates have designed a proposed state consumer agency that would subject more financial firms and fintechs to state oversight.

Wells Fargo, which contested the prior sale of a Manhattan, Kan., home for only $1 in a foreclosure auction, was the winning bidder at a new sheriff sale for the property.

The delinquency rate for commercial mortgage-backed securities ended 2019 at its lowest point in nearly 11 years, aided by increased issuance and the resolution of legacy transactions, Fitch Ratings said.

In a case highlighting a fraud risk for mortgage companies and other financial institutions, two Garden State residents were sentenced for using fake money orders attempting to fraudulently discharge debts.

WeWork co-founder Adam Neumann's family office is in discussions to put additional capital in Peach Street Inc., a startup focused on mortgage servicing.

Elizabeth Warren rolled out a plan to restore bankruptcy protections repealed in a 2005 law championed by Joe Biden, including those that involve mortgage lending.