Servicing

The 9-0 ruling markedly diminishes the threat of lawsuits involving automated calls and text messages to consumers.

One official at the bureau said this fall could be an “unusual point in history” for the mortgage market as delinquent borrowers exit forbearance plans. The agency proposed new steps for servicers to help consumers stay in their homes.

Mortgage companies could face penalties if they don’t take steps to prevent a deluge of foreclosures that threatens to hit the housing market later this year, a U.S. regulator said Thursday.

Also: Fairway fires back at UWM, private equity goes big with mortgage deals, manufactured homes aid the inventory crisis and how servicers will navigate the CDC's eviction ban extension.

The agency announced it was rescinding seven policy statements issued last year meant to help companies combat fallout from COVID-19 but that the bureau's current chief said came at the expense of consumers.

About 3.4 million renters believe themselves to be at risk of eviction, but when the moratorium ends, the actual number may be between 130,000 and 660,000, according to a Zillow report published Monday.

New entrants in the market may believe: “We’re doing everything right. Fraud isn’t a problem, and we have a fraud alert tool in place anyway.” This, of course, is exactly when fraud risk grows, warns Paul Harris of First American Data & Analytics.

The development bodes well for outcomes on distressed loans backed by major government-related mortgage investors Fannie Mae and Freddie Mac.

By applying what has been learned in the past year, mortgage providers can ensure they will be better positioned to take on more loans and grow their business, EarnUp CEO and co-founder Nadim Homsany writes

The FHFA’s forbearance extension to September is forcing nonbank servicers to buy out more delinquent loans. It's also upended loss estimates for investors and made racial and income disparities in the mortgage market worse.