Servicing

A more mature bank-owned foreclosure-to-rental property market is attracting a different type of investor into this new reality and likely changing how business will be done in 2014, an insider says.

The Servicing Trailblazer Award acknowledges a servicer or vendor initiative, product or platform that uses technology to optimize mortgage portfolio management and ensures efficient communication with borrowers, investors and the mortgage servicing support industry. Learn about this year's finalists and see who won the 2013 MT Award.

Gov. Andrew Cuomo is proposing regulations that expand mortgage relief options available to homeowners who owe more than the current market value of their homes and share benefits with investors.

The bank reduces servicing expenses by $1 billion per quarter.

More than 1,800 financially distressed homeowners lost a total of at least $12 million in fees they paid the Rodis Law Group and America’s Law Group.

The typical seasonal pattern is for bad loans to increase because of tight finances as a result of holiday spending.

Foreclosure inventory is down 31% nationally from one year ago, but this rate remains elevated relative to the pre-crisis level, says a CoreLogic economist.

In perhaps one of the most significant but least talked about changes, mortgage servicers will be facing revised statutes governing qualified written requests under the Real Estate Settlement Procedures Act.

The funds are intended to support housing, business and infrastructure needs beyond those addressed by other forms of public and private assistance.

Commercial mortgage-backed securities with balances at or below $10 million dominated transfers to special servicing in 2013 and there is reason to believe the trend will continue, analysts say.