Servicing systems

Altisource Portfolio Solutions recorded multimillion-dollar net losses in the fourth quarter and the full year for 2018, due to the reduction of the Ocwen Financial servicing portfolio and other repositioning activities.

Black Knight reported lower net earnings, but higher revenue in the fourth quarter compared with the previous year, driven by growth in the company's software segment.

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.

FDIC Chairman Jelena McWilliams questioned whether regulators and banks are fully capturing the emerging risks of a new shadow banking system.

Black Knight's third-quarter net earnings were slightly below the same period last year, although total revenue increased by 7% compared with one year prior.

Fiserv Lending Solutions' rebrand to Sagent Lending Technologies reflects the company's focus on a more efficient process for mortgage and consumer lenders.

A new financial technology company called Scratch is planning to use a new web-based platform along with an alternative pricing model to compete with companies that service mortgages and other consumer loans.

Black Knight reported net earnings of $40 million for the second quarter as adjusted revenue from its servicing and origination software businesses grew by 7% over the previous year.

The Pennsylvania Housing Finance Agency is switching to Black Knight's LoanSphere MSP to service the agency's $4.9 billion mortgage loan portfolio.

Investments in technology and emphasis on user experience contributed to an increase in the average satisfaction score for mortgage servicers, according to J.D. Power. Yet only a fifth of customers use mobile platforms.