Servicing

Minor adjustments in the approach to distressed property data analytics and communication with the homeowner may separate a foreclosure from a sustainable workout. The key is in considering all the data involved, including factors that are not strictly related to servicing and field services.

Ocwen Financial Corp., which relies heavily on its overseas workforce, has decided to shutter a pair of North Texas servicing offices, laying off almost 680 mortgage workers in the process, according to a recent filing with the Texas Workforce Commission.

What are the most successful private companies operating in various financial markets including the mortgage space doing to prosper in 2012? Input from hundreds of Inc. 500 CEOs who have maintained above-average growth and profitability during tough economic conditions indicates there are six areas of focus that they considered key to their company's success.

Democrats on the Senate Banking Committee are urging the Federal Housing Finance Agency to take more aggressive steps to allow refinancing by homeowners with Fannie Mae and Freddie Mac mortgages.

Investors are increasingly demanding servicers/special servicers file hazard insurance claims on REO properties regardless of whether they will be approved.

With spring right around the corner, and signs of economic recovery everywhere, there is a feeling that brighter days are ahead. Glimmers of hope can even be seen in one of the most distressed U.S. housing markets in the country.

Lender Processing Services' latest Mortgage Monitor report revealed that foreclosure starts and sales declined significantly in February from the month before, a sign that the processing backlog problem is still far from resolved.

Gateway Mortgage Group has selected Mortgage Contracting Services to perform field services for its portfolio involving pre-sale and REO assets.

Bank of America this month will try to unload roughly $42 billion of mortgage servicing rights through two different offerings, one involving private label product, according to investors and investment bankers familiar with the bank's auction plans.

Hudson Valley Holding Corp. has completed the sale of $474 million in loans after it was required to reduce its concentrations in commercial real estate and classified loans.