Loss mitigation

IndiSoft will continue to support the distressed-borrower assistance platform formerly known as Hope LoanPort after the nonprofit that runs it winds down operations at the end of this year.

A risk management model revision that decreased single-family loan-loss allowances and a strong mortgage lending environment contributed to consistent earnings results at Fannie Mae in the third quarter.

National Cooperative Bank is starting a conduit to purchase Federal Housing Administration-insured mortgages that are at least 60 days' delinquent with the aim of turning them back into performing loans.

The nationwide mortgage delinquency rate keeps descending lower, with June marking the 18th consecutive month of annual drops, according to CoreLogic.

A federal judge in Florida dismissed the Consumer Financial Protection Bureau's lawsuit against Ocwen Financial Services, stating the agency improperly asserted an excessive number of claims without specifying the particular count to which they applied.

Foreclosure activity fell 21% in July compared to a year ago and rose 6% from June after twelve consecutive months of declines, according to Attom Data Solutions.

Freddie Mac is automating a manual form submission process used to correct post-settlement and real estate owned data, and adding policy changes aimed at accommodating electronic signatures on loss mitigation documents.

The mortgage delinquency rate sits at its lowest point in over 20 years after descending annually for 17 straight months through May, according to CoreLogic. But a broader look at this year's figures could signal a shift in the narrative.

Foreclosure activity dropped 18% in the first half of 2019 compared to a year ago, continuing an 11-quarter streak of sitting below prerecession levels, according to Attom Data Solutions.

Mortgages auctioned off through a HUD distressed loan sale program perform worse than those unsold and are more likely to result in foreclosure, according to a new Government Accountability Office report.

Mortgage servicers are getting better at helping borrowers avoid foreclosure, as evidenced by a declining auction rate, which was also supported by healthy home equity levels, according to Auction.com.

The Western states are the most likely to experience an increase in distressed loan activity in the second half of 2019, a survey of mortgage servicers by Auction.com found.

Although the performance of the government-sponsored enterprises' single-family loans continues to improve, the deeply delinquent totals remain significant in states with court-processed foreclosures.

BSI Financial agreed to pay a $200,000 fine along with restitution to settle allegations from the Consumer Financial Protection Bureau that it mishandled mortgage servicing rights transfers for loans in the loss-mitigation process.

With nearly $90 million added in the past two months, Goldman Sachs marched closer to its $1.8 billion consumer-relief mortgage settlement with the U.S. Department of Justice.

Home retention actions for loans owned by Fannie Mae and Freddie Mac declined in the fourth quarter and that trend is likely to continue given the strong economy.

Servicers that fail to give borrowers access to digital collection methods are missing out on a chance to improve delinquency rates and lower costs.

Whether through greater investments in technology and talent, or streamlining back-end processes to improve the decision-making process, mortgage servicers are doing more to prioritize borrowers. Here's a look at seven of these borrower-focused initiatives and how they're reshaping mortgage servicing.

A digital mortgage startup called Brace is using machine learning to automate loss mitigation and has lined up backing from several venture capital sources, including a fund with high-profile investors like Amazon founder Jeff Bezos.

The agency wants mortgage servicers to extend special forbearance plans to those affected by the partial government shutdown and evaluate borrowers for loss-mitigation options.