Servicing

The news comes weeks after the servicing fintech announced its latest venture capital raise.

In a wide-ranging interview, Tim Bowler, president of ICE Mortgage, discusses his views of the road ahead, the most crucial aspects of servicing distressed homeowners and why he took a mid-career role as an intern.

The company, now known as Onity, is challenging a previous interpretation of the Fair Debt Collection Practices Act in the Eleventh Circuit Court of Appeals.

Those who don't retain MSRs or have a buyer agreement accommodating a recapture strategy will face challenges, one panelist warned at an industry meeting.

Government securitization guarantor Ginnie Mae got the terms for the popular HMBS 2.0 program across the finish line ahead of a major change in federal leadership.

Serious mortgage delinquencies are at their highest since May 2023, and early payment default activity is also a concern, ICE Mortgage Technology said.

Smaller players face challenges when it comes to mortgage servicing rights, and larger ones have varying motivations, experts at an industry meeting say.

Government-guaranteed securitization rules complicate servicing sales and are a growing problem for nonbanks, the Community Home Lenders of America says.

In 2022, 52% of the U.S. population lived in families that are unable to "pay for all the goods and services necessary to fully participate in today's economy and society without cutting back, as well as save money for emergencies and the future," the study found.

Litigation filed by the company points to a total of $30 million losses that have yet to be covered by its insurance partners, including Berkshire Hathaway.