Servicing

The Consumer Financial Protection Bureau's new mortgage servicing rules may force some servicers to exit the business altogether or simply outsource servicing of defaulted loans to third parties.

Increases in spending in the second half of 2012 suggest a remodeling recovery is already underway.

A pair of mortgage companies owned by affiliates of Lone Star Funds, originator Caliber Funding and servicer Vericrest Financial, have agreed to combine operations to create a full-service mortgage banker.

Kofax is using more than $1 million in third-party investments to develop a data capturing business process management tool for the real estate and mortgage financing market.

While there are those in the mortgage industry who feel the Consumer Financial Protection Bureau’s new servicer rule goes too far, Rep. Maxine Waters feels it does not go far enough.

Wells Fargo is expanding its commercial real estate operations in the United Kingdom.

FCI Lender Services has passed a SOC 1/Statement on Standards Attestation Engagements No. 16 “superaudit” of service organization controls and become a ranked special servicer.

The Consumer Financial Protection Bureau has expanded the small servicer exemption fivefold to include community banks and credit unions that service up to 5,000 mortgages.

Residential Capital won court approval to try to sell a pool of defaulted loans with a balance of about $130 million.

The average rate for a 30-year fixed-rate mortgage slid two basis points to 3.38% in Freddie Mac’s latest weekly survey.