Servicing

Future reductions in loan application defect risk are likely because of mortgage lenders' fintech investments, even as the purchase origination share grows, said First American Financial.

Mortgage industry hiring and new job appointments for the week ending Aug. 31.

With spring homebuying in bloom, the second quarter brought profits to independent mortgage bankers after going negative for the second time ever, according to the Mortgage Bankers Association.

A 75-year-old Florida real estate developer was sentenced to six months in prison after admitting he lied to banks to keep money flowing so he wasn't forced to scuttle an oceanfront hotel and condominium in Vero Beach.

Wire fraud committed through business email compromise schemes has emerged as a serious threat to mortgage and real estate transactions. Defending against these scams requires a comprehensive strategy that includes technology, training and nonstop vigilance.

Fraudsters can track a home sale from the moment it goes on the market until the deal closes, make these transactions a ripe target for business email compromise scams that seek to intercept wire transfers and steal from legitimate participants in a deal.

The 30-day delinquency rate dropped to a low not seen in over a decade in July, but foreclosure starts also increased to a three-month high.

Post-crisis measures made it harder for rogue borrowers and employees to commit fraud. Now, a new threat has emerged from scammers posing as title agents, real estate professionals and more.

Mortgage industry hiring and new job appointments for the week ending Aug. 24.

Intensifying margin pressure could spur another wave of cost-cutting at nonbank mortgage lenders, unless other strategies, like consolidation or a mortgage servicing book that could increase in value, offset it.