Servicing

With more than a third of mortgage originations in the first quarter of 2012 and a strategy targeting 40% down the road, Wells Fargo has benefited from solid if not always stellar execution in mortgage production and servicing as well as from the stumbles of key competitors, leaving it well out in front of the pack.

Fidelity National Financial’s ServiceLink division acquired DRI Management Systems, while simultaneously rebranding DRI’s default servicing workflow platform.

Printing and marketing materials provider Taylor Corp. will enter the mortgage industry with its acquisition of servicing documentation provider Venture Encoding.

In an interview at his office in Washington, CFPB director Richard Cordray discussed why the complaint database was so important, how he is trying to create a new culture for the agency and why the agency delayed the much-anticipated qualified mortgage proposal.

Clear Capital said the majority of the top 50 metropolitan markets made positive strides in June as only seven cities saw prices fall on a quarterly basis.

The mortgage settlement between U.S. state attorneys general and the five largest servicers, in clarifying foreclosure standards for the industry, may be contributing to higher foreclosure initiation rates.

The Consumer Financial Protection Bureau has released its Loan Estimate form, which will eventually replace the good faith-estimate disclosure that borrowers receive three days after applying for a mortgage.

Radian is benefiting from the changing competitive environment in private mortgage insurance as two of its competitors went into run-off in the third quarter last year.

Freddie Mac expects to price this week its ninth so-called K multifamily securities offering for the year.

In judicial states, 6.5% of all mortgage loans are in some stage of foreclosure, compared to only 2.5% in states that don’t use the courts to conduct a foreclosure.