Servicing

A subsidiary pushed its tender offer to buy outstanding shares by June 27 further out after a small percentage of stockholders failed to accept by the original expiration date.

The watchdog claims that during internal testing, the company illegally processed $2.3 billion in mortgage payments.

Over one-third of the struggling borrowers who received recast loan terms in the first quarter cut their monthly obligation by 20% or more.

An Urban Institute and Federal Home Loan Bank of San Francisco paper suggests creating a pilot program in which some down payment funds are set aside in case the borrower runs into problems.

Adjustments to area median-income levels will make more residents eligible after the state opened up the Homeowner Assistance Fund to households with pandemic-related partial claims or loan deferrals earlier this year, the program said.

The Connecticut company has been growing both on the originations and servicing sides of the business.

The government-sponsored enterprise has shared $25.2 billion of insurance coverage through its Credit Insurance Risk Transfer program.

Some borrowers reportedly balk at moving to longer terms to modify as the popping of tiny housing bubbles potentially puts new strain on performance.

A second bill formally making it a felony only passed one house of the state legislature.

Under new terms of its program, the Aloha State will also extend assistance to reverse mortgage holders as well as some borrowers with nondelinquent loans.