Servicing

The mortgage servicing market has been experiencing a continued consolidation trend in the recent past.

Amalgamated, a New York-based trade union owned bank, has giving up outsourcing loan originations and has brought the process in-house.

The Federal Housing Finance Agency reported that all Fannie Mae/Freddie Mac seller-servicers originated 243,000 Home Affordable Refinance Program loans in the second quarter, which represented 24% of total refinancing volume.

According to a sample of survey figures being collected by NMN, some firms grew their mortgage servicing rights' portfolios by fourfold or more over the past 12 months.

Triad Guaranty's deficit-in-assets, the difference between policyholder obligations (both current and future) and the ability to pay them, is now $771 million, up $33 million from the first quarter.

Private equity money has been sniffing around mortgage servicing rights for about two years as well, but with not much to show for it.

Addressing Chicago’s distressed housing through eminent domain could hurt the market more than help it as it may harm homebuyers' ability to obtain credit.

• CFPB Disclosure Redesign • Product and Investor Data • International Mortgage Tech • Universal Lending Systems

Key components of a quality assurance program include reviews of the work contractors complete, collecting outside data, analyzing results, and adjusting practices on those results.

Turns out that Florida regulator Kevin McCarty had an insurance policy force-placed on his condominium several years ago because of what he describes as a paperwork snafu. It took more than a year to correct the problem and get his money refunded, he says.