Servicing

New York State is taking action to reduce the amount of time an insurer can delay deliberation on a homeowner’s insurance claim in the areas affected by Hurricane Sandy.

Even though the REO-to-rental market has gotten off to a good start, there are still high expectations for this sector to emerge as an even hotter asset class over the next few years.

The Federal Housing Administration is the process of implementing a new servicer scorecard and mortgage bankers are afraid it will be used to penalize servicers with high redefault rates.

The Department of Housing and Urban Development has launched its first housing discrimination mobile application.

Freddie Mac is lining up more lenders as it rolls out a program to provide financing for its REO sales across the country.

Servicers are performing origination functions, often using laid-off originators to do the work.

A big gain in servicing fees propelled Ocwen Financial in the fourth quarter.

The members of the Mortgage Insurance Cos. of America wrote $10.5 billion in primary new insurance in January, down approximately 2% from $10.7 billion in December, but more than double the almost $5 billion written in January 2012.

Data show the distressed asset inventory is dwindling down simultaneously, opening the way to a sustainable housing recovery and gradually closing what appears to be a window of opportunity in short sales.

The explosion in the number of REOs became a great way for investors and consumers to purchase properties for a steal.