Servicing

Mortgage industry hiring and new job appointments for the week ending Aug. 2.

Mortgage servicer customer satisfaction levels are among the lowest of any industry as more companies prioritize cost-cutting, regulation and default management over their borrowers, according to J.D. Power.

Mr. Cooper Group reported a second-quarter net loss of $87 million as the company took a $231 million fair value hit to its mortgage servicing rights portfolio.

Mortgage servicers are getting better at helping borrowers avoid foreclosure, as evidenced by a declining auction rate, which was also supported by healthy home equity levels, according to Auction.com.

New Residential Investment Corp. took a $32 million net loss in the second quarter as it diversified its business lines and repositioned to protect its mortgage servicing rights from falling rates.

Removing Federal Housing Administration-insured mortgages with natural-disaster forbearance from the agency's delinquency tracking database would give investors a less-distorted view of loan performance, according to the Community Home Lenders Association.

Mortgage industry hiring and new job appointments for the week ending July 26.

Mortgage fraud risk took a serious dive in the second quarter amid lower interest rates, which brought more refinance transactions into the market, according to CoreLogic.

Altisource Portfolio Solutions cut its previous-quarter net loss by 49% in its most recent fiscal period, when property maintenance revenue and new Hubzu real estate auction site inventory increased.

The incentives are stronger than ever to work toward standardizing the documentation, language and process for loans in commercial mortgage-backed securities to be combined with PACE financing.