Servicing

Florence's flooding and wind destruction affected about 700,000 residential and commercial properties across North Carolina, South Carolina and Virginia, according to CoreLogic's latest estimates.

Real estate crowdfund lender Sharestates introduced a new program to provide financing to investors to purchase nonperforming mortgage loans.

The mortgage delinquency rate dropped to its lowest level in over 12 years, but servicers should expect an increase following the impact of Hurricane Florence, according to Black Knight.

The CEOs of Fannie Mae and Freddie Mac are stepping down because the job they were hired to do — return the GSEs to profitability — is done. But attracting top-flight candidates to lead the mortgage giants into a new phase may not be easy.

The deadline for mortgage lenders and servicers to sign up to participate in NMN's inaugural Best Mortgage Companies to Work For survey and rankings is Friday, Sept. 21.

Fiserv Lending Solutions' rebrand to Sagent Lending Technologies reflects the company's focus on a more efficient process for mortgage and consumer lenders.

A new financial technology company called Scratch is planning to use a new web-based platform along with an alternative pricing model to compete with companies that service mortgages and other consumer loans.

An AI-powered virtual assistant could be used in a variety of ways, including helping customers to prequalify for mortgages, easing compliance and detecting problems.

Commercial mortgage-backed securities delinquency rates are likely to continue to decrease for the rest of the year, as new issuances outpace maturing loans and precrisis loans continued to get resolved by special servicers, Fitch Ratings said.

While the severity of Florence was reduced prior to Friday morning's landfall, mortgage servicers are taking proactive steps in addressing the emergency situation.