Servicing

The Money Source has filed three provisional patent applications as part of its efforts to develop new innovations in mortgage servicing, including the use of blockchain technology.

Only a fraction of mortgage borrowers return to their servicers to originate or refinance a mortgage loan, and it may be the industry's fault for not exhausting enough effort to keep them around.

Ocwen Financial reduced the size of its net loss by nearly half during 2018 thanks to cost-cutting measures, and economies of scale from its acquisition of PHH Corp.

Altisource Portfolio Solutions recorded multimillion-dollar net losses in the fourth quarter and the full year for 2018, due to the reduction of the Ocwen Financial servicing portfolio and other repositioning activities.

Policymakers could improve independent mortgage banks' financial stability by giving these companies improved access to liquidity, according to the Mortgage Bankers Association.

Mortgage prepayment speeds fell to a 19-year trough despite recent interest rate declines, but could rise if those lower rates lead to an increase in home purchases, according to Black Knight.

Fewer mortgage borrowers are falling behind on their payments, and consumers' broader borrowing habits indicate an increased willingness to turn to nontraditional sources like fintechs for their lending needs, according to TransUnion.

BSI Financial Services received a capital infusion for the subservicer to acquire mortgage servicing rights for its own account in order to offer its clients more liquidity for this asset.

Mortgage industry hiring and new job appointments for the week ending Feb. 22.

The company disclosed that it paid $146 million for servicing rights associated with $13 billion in mortgages.