Loss mitigation

Home retention actions from Fannie Mae and Freddie Mac through the first three quarters of 2018 already eclipsed 2016 and 2017 while forfeitures kept declining, according to the Federal Housing Finance Agency.

The government-sponsored enterprises sold fewer nonperforming loans in the first half, but the drop-off in the number of sales year-to-year is less severe than it was in 2017 as a whole.

Altisource Portfolio Solutions plans to discontinue its buy-renovate-lease-sell business for single-family homes and sell its short-term inventory in order to cut costs and repay debt.

Goldman Sachs is getting closer to hitting its $1.8 billion consumer relief obligation as outlined in mortgage settlement agreements between the U.S. Department of Justice and three states.

The Federal Housing Administration is making it easier for reverse mortgage servicers to submit insurance claims by expanding the types of supporting documentation it will accept on defaulted loans.

The new policy, meant to assist borrowers in Puerto Rico and the U.S. Virgin Islands, will let servicers evaluate borrowers using pre-disaster payment information.

Wells Fargo estimates that in 400 instances, borrowers later went through foreclosure who were improperly denied or not offered a mortgage modification.

Sales of nonperforming loans by Fannie Mae and Freddie Mac slowed during the past year as the number of delinquent loans on their books continued to drop.

Ocwen Financial Corp. got back in the black during the first quarter after selling New Residential Investment Corp. $110 million in economic rights to mortgage servicing.

From tech that ensures foreclosures are processed correctly to implementing robotic process automation, here's a look at seven strategies that servicers can use to stay compliant and on budget.