Servicing

Wells Fargo, which contested the prior sale of a Manhattan, Kan., home for only $1 in a foreclosure auction, was the winning bidder at a new sheriff sale for the property.

The delinquency rate for commercial mortgage-backed securities ended 2019 at its lowest point in nearly 11 years, aided by increased issuance and the resolution of legacy transactions, Fitch Ratings said.

In a case highlighting a fraud risk for mortgage companies and other financial institutions, two Garden State residents were sentenced for using fake money orders attempting to fraudulently discharge debts.

WeWork co-founder Adam Neumann's family office is in discussions to put additional capital in Peach Street Inc., a startup focused on mortgage servicing.

Elizabeth Warren rolled out a plan to restore bankruptcy protections repealed in a 2005 law championed by Joe Biden, including those that involve mortgage lending.

Mortgage industry hiring and new job appointments for the week ending Jan. 3

November's foreclosure starts hit their lowest level since Black Knight started tracking this data in 2000, while the foreclosure rate reached a 14-year low.

The Department of Banking and Insurance in New Jersey is warning that enforcement of a 2019 residential mortgage servicer licensing law will begin in 2020.

The drop in home buying power heightened the risk of misrepresentations on purchase mortgage loan applications during November, as consumers are more willing to fudge information in an uncertain market, First American Financial said.

Consumer attorneys are filing more Telephone Consumer Protection Act lawsuits than ever and if a piece of follow-up legislation becomes law, the peril to mortgage lenders will grow.