Servicing

The company claims its founder is acting out after he was removed from his positions due to a bribery scandal, in which substantial penalties nearly forced the business to close.

The government-sponsored enterprises have consistently earmarked some distressed loans for community, nonprofit and minority investors. Certain Democrats want more.

The company, which is a large investor in mortgage servicing rights, hired a former MetLife executive it previously worked with to oversee the business line.

The mortgage technology companies finalized an agreement with the Federal Trade Commission that permits the controversial deal to proceed.

The company plans for the exchange to soon have its first loans committed for co-issue transactions, increasing options in an evolving segment of the market.

A total of 8,800 homes facing foreclosure are currently sitting vacant, up from the previous quarter, a report from Attom reported.

While late payment and foreclosure rates continued to fall, prepayment activity also slowed with rates approaching 7%.

While a majority of current forborne borrowers sought relief for reasons related to COVID-19, servicers are seeing a growing share of cases involving natural disasters or personal financial issues, the Mortgage Bankers Association said.

The hedge fund accepted a $639 million offer from the mortgage REIT last month.

The growth in market share comes as the national insurance program has instituted a risk-based pricing regime that's led to some fluctuation in rates.