Servicing

Fannie Mae has transferred the credit risk on a $12 billion pool of mortgages to reinsurers.

Cenlar FSB, the nation's largest mortgage subservicer, will open a loan-servicing center in Tempe, Ariz.

From single-point-of-contact requirements to the need for better self-service options, servicers surveyed by National Mortgage News are taking a much-needed hard look at the full range of customer touch-points that they operate.

In one instance, a single complaint in the Consumer Financial Protection Bureau's database was counted as 35 different ones while in another, a complaint against a payday lender was filed against an unrelated bank. Current and former officials say that's par for the course, leading to inflated complaint numbers and inaccurate data.

Default rates on various types of consumer loans improved in October, according to Standard & Poor's and Experian.

Delinquencies on residential mortgages in the third quarter declined on a national recovery in housing prices and other factors, according to the Mortgage Bankers Association.

Center Street Lending in Irvine, Calif., has expanded into new lending products to help investors in the rental real estate market.

The number of underperforming loans transferred to special-servicing status dropped in October, according to Fitch Ratings.

Mortgage delinquency rates continued their double-digit yearly declines in the third quarter, according to TransUnion.

Mortgage professional hiring and new job appointments for the week ending Nov. 13.