Servicing

A federal judge awarded treble damages totaling $296 million in a False Claims Act case alleging Texas lender Allied Home Mortgage defrauded the Federal Housing Administration mortgage program.

The rise in foreclosure filings for August over July was more than double the historic increase between these two months, said Attom Data Solutions.

Default rates for first-lien mortgages rose slightly higher in August and remain lower year-over-year, but recent hurricanes could intensify loan performance concerns.

Automated data validations are integral to a seamless digital mortgage experience. But the extent of data exposed in the Equifax breach raises questions about the risk of fraudsters exploiting those technologies to further compromise consumer data.

Vandy Fartaj, the firm’s chief capital markets officer, says a novel deal structure allows the real estate investment trust to issue additional term notes its portfolio of mortgage servicing rights grows.

The shift to a purchase market and an increase in wholesale mortgage originations contributed to a nearly 17% year-over-year rise in fraud risk during the second quarter, according to CoreLogic.

New York City is working to create a database and system for tracking vacant and abandoned properties — though officials acknowledge Staten Islanders may not see the effects of the endeavor for years.

Three executives from Vanguard Funding are facing fraud charges related to their alleged misuse of nearly $9 million in warehouse lending funds.

More than 90% of all mortgaged properties in Florida are in a FEMA-designated disaster area following Hurricane Irma, nearly three times the number impacted by Hurricane Harvey, according to Black Knight.

MTGLQ Investors LP, a Goldman Sachs affiliate, was the winning bidder of Fannie Mae's $2.43 billion reperforming loan sale.