Servicing

Mortgage industry hiring and new job appointments for the week ending Oct. 9.

If mortgage lenders need to learn anything from the pandemic, it is relying on a single source for any service could disrupt their activities.

MCS isn’t the only distressed mortgage services entity gaining interest from investors as poor economic conditions threaten more hardships for homeowners.

GSE mortgages in forbearance fell for the 17th straight week, spearheading the overall downtrend, according to the Mortgage Bankers Association.

But most borrowers who have exited forbearance plans are back on track when it comes to paying, and the incidence of loss mitigation plans is high among those who aren't.

If the tally included loans with some form of payment relief, the rate would be close to 8%.

Kathy Kraninger’s job status would be in question if Joe Biden wins the White House. If the president is reelected, she may continue balancing a deregulatory agenda with her unexpectedly tough stance on enforcement.

The class-action lawsuit claims the company used deceptive contracts, locking low-income Black homebuyers into disadvantageous long-term mortgages without proper lending disclosures.

Customers suffered when they were placed in mortgage relief plans without their consent, the Massachusetts senator says. She urged the Federal Reserve to take the blunder into account as it weighs when to lift other sanctions against the bank.

The proposed best practices would be modeled after federal servicing standards and be used to supervise nonbanks firms subject to state regimes.