Servicing

Consumer advocacy groups are calling on Michigan lawmakers to refrain from passing a new law that would strip certain homeowner protections during the foreclosure process and threaten the still fragile housing recovery.

Although post-crisis commercial mortgage-backed securities performance is pretty good so far, the trend toward minimal interest shortfalls returning to the sector is troublesome, according to Fitch.

Ellie Mae has a program called EllieCares, where they have corporate volunteer projects. Over the past four years more than 70% of Ellie Mae’s Bay Area staff has participated in company-affiliated volunteer efforts.

Ocwen's agreement to buy $78 billion in mortgage servicing rights from OneWest is part of a string of deals by it and other nonbanks meant to wring value from remnants of the mortgage meltdown that many banks seek to unload.

Bank of America rewarded staff with cash bonuses and gift cards for meeting quotas tied to sending distressed homeowners into foreclosure, former employees said in court documents.

As the smaller GSE, Freddie Mac has traditionally been friendlier toward small seller/servicers than its larger competitor Fannie Mae.

The New York Association of Mortgage Brokers recently convened its annual wholesale meeting where its leadership was heartened by the resurgence in wholesale.

The zigzag pattern of the stock market continued on Friday as 15 of 17 Mortgage Industry Equity Composite stocks closed lower.

The prevalence of short sales is likely the most significant factor impacting foreclosure rate improvements and the housing recovery.

The Orion Financial Group has introduced i3, a proprietary mortgage document imaging and storage services software for small to medium-sized investors.