Loss mitigation

The number of Colorado Springs-area residential and commercial properties that fell into foreclosure in February rose to its highest level since last summer.

CoreLogic has released a new platform that provides information on lien and equity positions for whole loan traders and servicers.

The developers of new loan-modification programs need to streamline application processes and stop making borrowers chase down useless documents.

Phyllis Caldwell has put a priority on ensuring the company's board and workforce look more like the borrowers whose mortgages it services.

Fannie Mae is making technological updates and implementing policy and operational changes as part of an effort to improve servicing.

In the aftermath of enforcement actions, non-executive chair Phyllis Caldwell is directing the special servicer's efforts to diversify its leadership and business model.

Loans that had modifications completed since 2014 are redefaulting faster than those modified in previous years, according to Fitch Ratings.

Bank of America Corp.'s fourth-quarter mortgage revenue almost doubled to $519 million from a year earlier.

Fannie Mae and Freddie Mac have hiked the standard modification benchmark interest rate.

National banks have experienced a dramatic drop in loan modification activity over the past year, according to the Office of the Comptroller of the Currency.

Smaller companies that perform servicing are rapidly growing their loan portfolios — and not just in the default servicing space.

Fannie Mae and Freddie Mac will replace the expiring Home Affordable Mortgage Program with a new loss mitigation option called the Flex Modification.

While mortgage servicers are prohibited from early compliance with the Consumer Financial Protection Bureau's final servicing rule, there are a few steps they can take now ahead of the rule's effective date.

While nonbank servicers are expected to continue to gain greater market share in 2017, much of that growth will come from their own loan origination activity rather than mortgage servicing rights purchases and subservicing, according to a report from Fitch Ratings.

MTLGQ Investors, a Goldman Sachs affiliate, submitted the winning bids in Fannie Mae's sale of $1.3 million of nonperforming loans.

Ocwen Financial Corp. posted a quarterly profit for the first time since 2015.

Many home equity line of credit borrowers don't know when their draw period ends, and many do not have plans in place to handle that transition, according to TD Bank.

Condominium associations cannot afford to take on the potential legal risk that reporting delinquent borrowers to the credit bureaus would bring.

Servicers have long skimped on technology investment, leaving legacy systems that can't keep pace with compliance demands. But rising costs and a new round of regulations are compelling both servicers and vendors to finally address these deficiencies.

Fannie Mae said that it will sell 7,300 loans with a total of $1.39 billion in unpaid principal balance.