Servicing

The Federal Housing Administration is giving servicers more leeway to automate borrower contact but it's also requiring them to reach further afield.

An interest rate drop spurred an unusually high number of recently originated mortgages to prepay, and one loan type proved to be particularly reactive.

Delinquent borrowers in areas hit by Hurricanes Helene and Milton will get a few additional months to find solutions before servicers can resume legal actions.

Plaintiffs have so far failed to prove the government-sponsored enterprise authorized the $25 expedited payoff quote in question, the magistrate ruled.

Total jobs and nonbank industry payrolls saw gains, but unemployment increased on a net basis too in what's been a volatile bond market.

Specialized Loan Servicing, now Shellpoint, allegedly failed to send post-bankruptcy consumers monthly statements on dormant second mortgages, the suit claims.

The development marks another step in eNote adoption at government housing agencies following an announcement allowing commingled Ginnie Mae securitized pools earlier this year.

The credit rating agency believes that mortgage rates will decline in the year ahead, helping to spur lending activity.

A key update of secondary market scores is set to reach the finish line in 2025 but the outlook for whether its current trajectory will continue is mixed.

The news comes weeks after the servicing fintech announced its latest venture capital raise.