Servicing

As paychecks for consultants hired to review faulty foreclosures threatened to exceed compensation to the homeowners harmed by the flaws, the Comptroller of the Currency says he decided to end the reviews.

Stewart Information Services Corp., Houston, reported net earnings of almost $60 million for the fourth quarter and $109 million for the full year of 2012.

The average rate for a 30-year fixed-rate mortgage stayed at 3.53% for the third consecutive week.

Code violations are a slippery slope. If not careful your property might descend into lien oblivion, racking up enormous fines that create unwanted risk for investors.

With the California Homeowner Bill of Rights taking effect at the beginning of 2013, it didn’t take long to see the legislation’s impact on the default foreclosure process.

California foreclosure activity continues to decline as defaulting homeowners are taking advantage of federal programs.

Servicers will soon be subject to new guidelines as well, as the Consumer Financial Protection Bureau finalized rules in January of 2013 designed to establish a national servicing standard.

The Consumer Financial Protection Bureau wants to make implementation of the new mortgage and servicing rules easier for companies by providing frequent and easy-to-understand guidance.

Responding to market demand for automated regulatory compliance tools Equator has incorporated the new mortgage servicing rules set forth by the Consumer Financial Protection Bureau into the Equator Loan Segmentation module.

The Federal Housing Administration has implemented a streamlined approval process designed to accelerate access to mortgage financing for multifamily apartment owners and developers in New York and New Jersey.