Servicing

Wells Fargo Home Mortgage is embracing residential reforms mandated by the new national servicing standards, regulatory consent orders and the Dodd-Frank Act.

But the HUD auction raises an interesting question: if HUD can unload nonperforming loans (NPLs) why can’t Fannie Mae and Freddie Mac?

The Census Bureau reported that the number of the owner-occupied homes rose by 126,000 units in the second quarter after falling by 490,000 units in the first quarter.

Nowadays, with people staying in homes for years after defaulting, it takes a lot more than $2,500 to get borrowers to leave.

So far, 43% of complaints received by the CFPB since it opened its doors in July 2011 were about mortgages.

Optimism from Trepp analysts that commercial MBS delinquency rates might improve in the second half of 2012 did not occur in July as expected.

In expanding its note sale pilot program, the Department of Housing and Urban Development is imposing new certification requirements on servicers that are willing to assign defaulted FHA loans for the upcoming sales.

The never-ending economic lethargy is sending more borrowers into default, plaguing the bottom lines at institutions such as First Financial Bankshares, S.Y. Bancorp and Southwest Bancorp.

Bank of America is ready to hit the market with a $100 million package of residential servicing rights backed mostly by nonperforming loans guaranteed by Freddie Mac.

I recently chaired a successful webinar on CFPB examinations. So successful in fact we will be doing another regulatory compliance webinar on Sept. 27.