Servicing

More incentives are coming for servicers as a greater number of distressed borrowers get expanded access to more affordable, streamlined modifications.

Servicing was strong relative to some analysts' estimates, but thin margins and higher-than-expected expenses in originations reduced earnings for the fiscal period.

The Keystone State's housing finance agency will take over distribution of the federal aid following news reports that alleged the response times of the vendor handling payments have been excessively slow.

The relief previously only available to people with COVID-19 hardships has been opened up to all borrowers with imminent defaults, including non-occupants.

After Greg Tornquist's retirement, he shared the job with Rob Lux, who is staying onboard as the subservicer's COO.

Average scores remain unchanged but signs of payment stress keep emerging, with Fannie Mae's serious delinquency rate up for the first time since August 2020.

Alanna McCargo, president of the housing agency, is fulfilling her pledge to halve the waiting time for reperforming loans.

The new automation integrates with the company's customer-facing Servicing Digital software, and is aimed at helping consumers find temporary assistance with payment hardships.

But late borrower payments slightly grew in November, with 18 metro areas reporting an increase, up from six metro areas in October, CoreLogic's report found.

Mortgage prepayment rates also fell to a new low for the third consecutive month in December, according to Black Knight.