Servicing

The National Credit Union Association said Monday that a federal credit union may set the maturity date for modified or refinanced mortgages beyond the regulatory 40-year maturity limit, as long as the terms of the original loan were no more than 40 years.

Just how hungry is Ocwen Financial Corp. for servicing rights? In a new filing with the Securities and Exchange Commission the nonbank servicer discloses that it is currently reviewing $300 billion of MSRs for purchase.

In his recent State of the Union address, President Obama laid out a "Blueprint for an America Built to Last," calling for, among other things, action to help responsible borrowers and support a housing market recovery.

Bundled services never get out of fashion. Service demand indicates mortgage loan servicing process challenges from loan default to foreclosure management are carving out a new market for innovative default risk control and loss mitigation solutions.

Borrower engagement is opening the way to an equally engaging relationship between servicers and field servicers.

Integra Group Real Estate, a brokerage firm specializing in the management and marketing of REO, HUD and distressed properties in Southern Arizona, has created a short sale department to help homeowners avoid possible foreclosure.

A mortgage banking firm specializing in VA loans is trying to sell $4.5 billion of GNMA-backed mortgage servicing rights through Interactive Mortgage Advisors, Denver.

Servicers could end up paying millions more toward the $25 billion mortgage settlement under deal terms that require them to review thousands of foreclosures involving members of the military.

Carrington Capital Management, a unit of Carrington Holding Co., and American Home Mortgage Servicing (AHMSI) have agreed to bring to a close the action filed by Carrington against AHMSI in 2009.

Field service companies must continuously evolve their best practices to develop and maintain the most effective vendor network possible. Key areas of focus are: recruitment, training, diversity and technology.