Residential servicers completed roughly 159,000 loan modifications in May, including 112,000 proprietary restructurings and 47,000 HAMP mods, according to The Hope Now alliance. To date, servicers have completed 800,536 permanent loan modifications. Seventy-seven percent of proprietary (non-HAMP) modifications include lower principal and interest payments, which means these programs are being designed for longer-term sustainability and homeownership.
The bipartisan legislation aimed at reducing barriers to new home construction, which included certain community bank riders, passed the lower chamber by a 358-32 vote.
Tech companies may be the biggest winners of a custodial deposit provision tucked away in a much-touted bipartisan housing bill set to become law this week.
Affected team members were offered severance, and some have received opportunities to remain with the company, a Pennymac spokesperson said.
Cybersecurity platforms said infiltrators gained access to terabytes of data with a wealth of personal information, but the lender disputed reported numbers.
The change aims to address hurdles in the onboarding process, which many have cited as a point of friction in mortgage servicing.
The latest postponement comes after a UWM filing states that Two Harbors shareholders are rejecting the deal, with 54% voting no as of June 12.
