Servicing

The delinquency rate that Kroll Bond Rating Agency tracks improved last month but JER's recent Chapter 11 filing and 2024 forecasts suggest it's still under pressure.

The agency reconfirmed the new nonbank capital rule won't become effective until late next year after inadvertently publishing an update with an earlier date.

In a filing, the company's subservicing subsidiary Loancare said 1.3 million customers had their data compromised, while in an ongoing situation, customers of fellow title insurer First American find themselves without email or online access after a separate incident last week.

The credit grader lowered Brookfield Property's score by two steps to BB from BBB-, the lowest level of investment grade, and the rating remains on negative outlook.

FHA-insured and Department of Veterans Affairs-guaranteed mortgages bear watching next year, according to Intercontinental Exchange.

With a tough winter predicted for lenders, servicers may struggle making timely principal and interest payments to investors, industry stakeholders warn.

Over 200 employees will be let go as of Feb. 16, 2024, according to an Illinois WARN notice.

Relying on hope, as implied in the "survive until '25" slogan, is not a business strategy that will get a company through the year.

Both past and present customers were impacted by the data breach.

Lawyers for the plaintiff maintain the companies should have been on notice of inadequate security measures after a reported data breach in 2022.