Loss mitigation

The Consumer Financial Protection Bureau has dropped an investigation into Altisource, a mortgage servicing technology firm with close ties to Ocwen Financial.

The New York Department of Financial Services is fining Nationstar Mortgage $5 million for failing to comply with servicing and origination regulations as it grew between 2012 and 2014.

Hope LoanPort will receive funding and guidance to expand its loss mitigation platform for servicers, housing counselors and mortgage borrowers from the Finance of America Foundation, a nonprofit with ties to former Rep. Barney Frank.

Freddie Mac is now accepting bids on $420 million in nonperforming loans, its first NPL sale of 2018.

Almost two years after settling mortgage securitization allegations with the Department of Justice and a group of states, Goldman Sachs has fulfilled more than half of its consumer relief commitment.

A new due diligence firm created by a trio of former Clayton Holdings executives wants to shake up a static business model.

Communication between all parties in the chain, from borrower through guarantor, is the best way to minimize mortgage losses after events like last year’s hurricanes and wildfires, according to servicers and federal officials.

Mortgage servicers should approach efforts to overhaul their compensated structure with caution, as changes to the status quo "could have ripple effects across the entire real estate finance industry," warned Mortgage Bankers Association Chairman David Motley.

From insights about borrower payment preferences to new automation assisting with natural disaster recovery efforts, here's a roundup of news coming out of the Mortgage Bankers Association Servicing Conference.

Servicers that handle loans in the government's Making Home Affordable program could face more enforcement at the urging of the Special Investigator General for the Troubled Asset Relief Program.