Servicing

Wide-ranging efforts to reform Home Equity Conversion Mortgage lending and servicing practices are designed to close loopholes and resolve policy inconsistencies, but some obstacles remain unresolved and more work needs to be done.

The Hope LoanPort platform has activated a web portal designed to support foreclosure prevention counseling and loss mitigation.

A recent survey shows a very large number of mortgage lenders worry about loan quality and Truth in Lending Act and Real Estate Settlement Procedures Act Integrated Disclosure Rule compliance costs.

Embattled nonbank servicer Ocwen took a $100 million charge for a potential settlement of foreclosure violations and posted a third-quarter loss, but warned the final cost to settle allegations that it backdated foreclosure notices could be higher.

Earnings at Radian Group swung to a profit the third quarter, boosted by mortgage services revenue and a lower credit-loss provision.

The nearly 45% of new insurance written for other types of mortgage lenders could be a sign that the formerly credit union focused company is gaining some traction in the broader market.

With the news coming out on Oct. 28 that the Federal Open Market Committee has ended bond purchases, finishing its third round of quantitative easing, my first reaction was to check the stock market.

In a surprise victory for mortgage servicer PHH Corp., a California judge overturned a $16.2 million jury verdict awarded to a California homeowner in July for a botched loan modification.

The court asked another governmental entity to remedy the plight of non-borrowing spouses facing foreclosure. So far options appear to give few consumers relief.

The number of homes lost to foreclosure in September fell to 46,000, according to data from CoreLogic.