Servicing

The Golden State experienced a rise in notices of default and foreclosure sales during December, while notice of trustee sales declined.

Mortgage Fraud Examiners describes this program as a foreclosure rescue rip-off.

Late payments on loans have risen for the first time since early 2012, but the long-term loan performance trend remains positive.

Many welcome additional lending as a sign of a recovering economy. But some of it is being done with looser underwriting.

Credit requirements loosened the most in December, when 31% of mortgages had credit Fair Isaac & Co. credit scores below 700.

The bank reduced its servicing portfolio by 38% over four quarters, and lower provisioning for repurchases during the most recent quarter gave loan production income a relative boost.

Standard & Poor’s estimates that the number of months required to clear shadow inventory has risen to 51 months, 14 more than a year ago.

Ann Thompson intimated that she works almost exclusively with mortgage lenders and servicers examining their prioritization process to assess risk.

A court directed the Department of Housing and Urban Development to clarify the rights of unnamed spouses in Home Equity Conversion Mortgages documents, but HUD is appealing the decision.

The company added Crossline Capital and the Nationstar wholesale platform to its production business during the quarter.