We continue to hear stories about scattered loan modification scams. One loan investor told us he ran into a loan-mod company operating in Southern California under five different names. He said the loan-mod company temporarily prevented him from foreclosing on one of the loans he bought and then tried to work out a settlement with him -- which he declined. The investor said the loan-mod firm is charging consumers between $2,000 and $5,000 for their servicesâ¦
Rocket Cos. fell just $200 million short of United Wholesale Mortgage in Q1, as servicing recapture from its massive MSR portfolio fueled $44.7B in closed loan volume.
The buyer will add around 800,000 loans to its hefty servicing portfolio, while Valon said it will shift away from servicing to focus on technology.
The new law, which will mandate the Bureau of Indian Affairs to approve or deny loan applications within 30 days, passed with wide bipartisan support.
The real estate technology company reduced its workforce and consolidated select vendor relationships. These moves will save the company roughly $2 million.
The lenders' examples of using generative artificial intelligence were more practical than transformational, but in any case data challenges represent a common problem.
The 30-year fixed spiked earlier in the week, but fell as Middle East news helped to drive the 10-year Treasury yield lower by 9 basis points by Wednesday.
