Servicing

The Release of the Year Award recognizes a new software, platform, alliance or initiative that’s expected to have the broadest future impact on the mortgage industry. Learn about this year's finalists and see who won the 2013 MT Award.

Under the agreement Flagstar Bancorp will sell $41 billion in aggregate unpaid principal balance of residential mortgage servicing rights to Matrix Financial Services, a wholly owned subsidiary of Two Harbors Investment.

Ocwen will spend the money on “principal forgiveness modification programs” for borrowers who are behind on payments or whose homes are worth less than they owe.

Sen. Barbara Boxer, D-Calif., wrote the Internal Revenue Services in August asking how they will treat California short sales after the expiration of the Mortgage Forgiveness Debt Relief Act.

The big bank has more than twice as much Ginnie servicing volume as the second-place company in the niche.

As malware and virus detection gets more advanced, financial firms may find their IT departments overwhelmed by the volume of “suspicious activity” alerts that have to be investigated.

A limited supply of properties available to purchase on the open market continues to affect prices in many of the nation’s largest counties.

An unprecedented annual jump in Internet mortgage banking transactions coupled with a 50% increase in mobile banking is profoundly changing retail bank operations and customer retention practices across the U.S., according to Accenture.

Ronald Hurst will serve two years in prison for conspiring to commit bribery and wire fraud in a scam that affected the U.S. Department of Veterans Affairs Mortgage Guarantee Program.

Stenwyn Joseph previously had oversight of a team of portfolio managers and analysts managing risk and return associated with mortgage servicing rights at OneWest’s predecessor, IndyMac Bank.