Servicing

Credit requirements loosened the most in December, when 31% of mortgages had credit Fair Isaac & Co. credit scores below 700.

The bank reduced its servicing portfolio by 38% over four quarters, and lower provisioning for repurchases during the most recent quarter gave loan production income a relative boost.

Standard & Poor’s estimates that the number of months required to clear shadow inventory has risen to 51 months, 14 more than a year ago.

Ann Thompson intimated that she works almost exclusively with mortgage lenders and servicers examining their prioritization process to assess risk.

A court directed the Department of Housing and Urban Development to clarify the rights of unnamed spouses in Home Equity Conversion Mortgages documents, but HUD is appealing the decision.

The company added Crossline Capital and the Nationstar wholesale platform to its production business during the quarter.

The Independent Community Bankers of America is urging Congress to advance legislation to limit the adverse consequences of new Consumer Financial Protection Bureau mortgage rules.

The operators of this scheme have been banned from offering any type of mortgage and debt assistance business services to consumers.

Fannie Mae’s home loan volume projection is slightly more pessimistic than it previously forecast, but more optimistic than the Mortgage Bankers Association’s recent downward revision.

The first Black Knight Financial Services mortgage monitor report revealed that purchase loans now account for over 50% of total originations.