Outsourcing

Forty-one percent of mortgage lenders feel they are not ready for the August 2015 Truth in Lending Act and Real Estate Settlement Procedures Act Integrated Disclosure Rule, according to a study by Capsilon Corp.

Altisource Portfolio Solutions has raised the curtain on Residential Investor One, a new cooperative aimed at providing savings and services for real estate investors.

Holders of servicing rights will soon demand more than the basics from these third-party providers. Subservicers may be expected to help promote an institution's nonmortgage products or provide portfolio analytics.

Fountainhead Commercial Capital has created a program designed to allow banks and credit unions to outsource Small Business Administration 504 loans.

KeyCorp has been getting back into full-scale residential lending as part of a broader strategy to deepen client relationships. The market's shift toward purchase activity and defined mortgage rules also played a role.

JPMorgan Chase has agreed to a $50.4 million settlement with the Justice Department for robo-signing documents sent to homeowners in bankruptcy and for related abuses.

Real estate services provider Accurate Group has unveiled a new suite of products designed to facilitate title and lien clearance.

Walter Investment Management Corp. has emerged as the favorite of investors following a year of investigations of the top three nonbank mortgage servicers.

The Qualified Mortgage rule, as well as increased scrutiny and more frequent auditing by regulatory agencies, has required lenders to embrace quality control to a far greater degree.

The relationship a loan officer took several months to cultivate can be destroyed by your servicing area in just 10 minutes, affecting potential referrals or future business. Here are a few ways you can avoid that.

You can get a jump on taking preventive and proactive measures against defaults in order to mitigate risk and retain portfolio assets. Here's how.

Accurate data is critical in the mortgage business. Yet, we often forget exactly how much data goes into every loan file, and that the amount of data continues to grow every year.

Embrace Home Loans, a direct mortgage lender in Newport, R.I., has partnered with Rockland Trust, to process, underwrite and close loans for the Rockland, Mass.-based bank.

Before the Dodd Frank Act went into effect in 2010, the residential mortgage market was in an entirely different state — particularly in regards to servicing. Several large servicers dominated the market, but ultimately shed most of their servicing assets, creating a substantially large segment of midsize servicers.

Altisource Portfolio Solutions promoted John Vella to the new position of chief revenue officer in a bid to grow beyond its relationship with embattled former parent Ocwen Financial.

The Ocwen spinoff Altisource Portfolio Services delivered notices to more than 800 employees and hundreds of contractors this week as part of the company's scramble to reassure investors.

Black Knight Financial Services Inc., a mortgage-technology company formed from businesses previously owned by Lender Processing Services Inc., filed for a $100 million initial public offering.

Mortgage companies must properly vet their third-party vendors to ensure that there is no litigation, fraud allegations, or other risky behavior that might create risk for them.

While evolving market conditions have made retaining servicing rights more attractive to independent mortgage bankers, making the right choice between an in-house operation or engaging with a subservicer is critical to the new business line's success.

It is critical for all originators to have a vendor management plan to mitigate their risk and to comply with state, federal and local laws.