Servicing

Responding to reports that mortgage lenders and servicers are accepting insurance tracking services from unaffiliated insurance producers, the New York Department of Financial Services is warning all parties involved that this practice is illegal in New York.

We're hearing that the full-fledged recovery in the closely watched metropolitan Phoenix housing market shows no signs of abating.

The concern is that vendors are overbilling borrowers and servicers are not properly monitoring the vendors.

At least in Florida some are seeing a surprise benefit from new regulations—growth in the mortgage broker industry.

Mortech has added new day-to-day lending process functionality to its Marksman software.

The New York attorney general has filed a lawsuit against real estate mogul Donald Trump, Trump University and its former president for engaging “in persistent fraudulent, illegal and deceptive conduct.”

Fannie Mae has added Ocwen Financial Corp. and PNC Financial Services Group onto its list of top servicing shops.

The court issued a memorandum that clarifies the proposal is based on the suggestion of a number of stakeholders involved in mortgage foreclosure cases.

The state of Michigan is using $100 million of the Treasury Department’s’ Hardest Hit Fund for the demolition of vacant and abandoned homes in five cities.

Despite numerous news reports indicating a decline in foreclosure inventory over the past several months, RealtyTrac pointed out that foreclosure starts are up on a monthly basis in 26 states.