Servicing

An appellate court denied the bank's argument targeting the state's Foreclosure Abuse Prevention Act and ordered it to pay the defendant's legal fees.

Though changes to bank capital rules previewed by Federal Reserve Vice Chair for Supervision Michelle Bowman in February are being viewed as welcome, experts say other more significant hurdles — not all of them regulatory — are keeping banks on the sidelines of mortgage servicing and lending.

While overall delinquencies eased in January, foreclosure starts jumped to their highest point since early 2020, signaling growing strain among late-stage borrowers despite steady mortgage performance.

In their decision to send the case to a lower court, appellate court judges said the servicer's handling of borrowers' mortgage payments was still unclear.

Total consumer debt in the United States hit $18.2 trillion by the end of last year, with $12.8 trillion attributed to first mortgages, according to Equifax.

Aulene Wessel also previously worked in the fintech sector, and will be heading up accounting in her new post at the nonbank mortgage lender and servicer.

The agreement between servicing technology platform Vertyx and Great Lakes Credit Union arrives as the mortgage industry sets its focus on borrower retention.

Bowman's Basel III relief may ease MSR capital but won't bring banks back; risk weights and economics still favor nonbanks, according to the Chairman of Whalen Global Advisors

The sector has specialized data that experts can help with and may mitigate cyclical risk, but costs and customers are considerations, an industry veteran says.

The Trump Administration proposed banning a smaller investor size than expected from purchasing more single-family houses, according to the Wall Street Journal.