Servicing

The agency said the risk management program for Cenlar FSB, which performs servicing functions for financial institution clients, was inadequate for the bank's size.

To avoid a crisis similar to in 2008, protection needs to be in place for the mortgage industry. Soon, flood insurance will need to be standard for almost all coastal areas, which will be a considerable cost, writes the CEO of Repair Pricer.

Around 432,000 homeowners exited their pandemic-related payment suspensions in the first 19 days of October and more than 280,000 plans have month-end review dates, but the number of private-loan plans increased.

This increases the opportunity for the company to keep in touch with its HomeSafe and EquityAvail customers between the loan closing and when it becomes due.

Counties in the West faced the least risk from pandemic distress in the third quarter, according to Attom Data Solutions.

One winning bidder, who bought two of the four pools in the government-sponsored enterprise’s nonperforming loan offering, is a repeat buyer affiliated with a minority- and women-owned business.

Taking a consistent, equitable and borrower-friendly approach could go a long way toward compliance, but mortgage companies and attorneys expect the devil will be in the details.

As the expiration of a national eviction moratorium puts economic pressure on low-income households, the Consumer Financial Protection Bureau is said to be considering investigating credit bureaus, debt collectors and large landlords accused of harming renters. But some argue the agency would be overreaching.

The drop over the 30-day period was in line with a large number of plan expiration dates, and occurred despite the extension of an initial filing deadline for government loans.

Following the federal moratorium’s end, the number jumped, marking the highest quarterly growth on record, according to Attom Data Solutions.