Servicing

FHA officials believe lenders will qualify more borrowers with sub-680 credit scores via manual underwriting, but there is concern they will simply limit originations to plain-vanilla FHA.

The portfolio also has an average loan size of $265,833 and is 100% first lien.

These institutions see an opportunity in a declining market to fill a void created by competitors exiting.

Right now, there are contradictory messages between servicers of what is compliant. Utilizing technology can help servicers remain compliant to all of the industry regulation in effect today.

The settlement is part of CEO Brian Moynihan’s efforts to resolve liabilities tied to faulty mortgages that have cost the company at least $50 billion since the financial crisis.

Alaska is the last on a very short list of states that have digitized 100% of their real estate and land inventories.

The rebranded Arch Mortgage Insurance Co. is ready to start underwriting policies on loans from all originators, not just credit unions.

A Census Bureau reports shows little increase in first-time buyers.

The company said it bought Morgan’s European real estate loan servicing business, boosting the amount the U.K. debt manager oversees to about $13 billion.

Mortgage companies, including mortgage servicing and property preservation firms that invest in the wrong type of data drilling and search engine optimization tools, can be in big trouble.