Servicing systems

A UBS Group AG unit suffered a setback in a $2 billion lawsuit over allegedly defective mortgages after a judge said it violated contracts with three mortgage-backed securities trusts.

Mortgage portfolio retention strategies typically focus on proactively approaching borrowers who can benefit from refinancing. But companies are increasingly using enhanced analytics to further segment their customer base and identify borrowers on the cusp of buying a new home.

FNF Group, the title insurance business of Fidelity National Financial Inc., had net earnings of $187 million for the second quarter, up from $160 million last year.

Banks frequently blame "the rules" in shunning partnerships with fintech startups. However, compliance can be a positive force, not something that inhibits growth.

The Federal Housing Finance Agency wants mortgage servicers reaching out to delinquent borrowers to be exempt from tough restrictions on robo-calling. But the idea is being panned by consumer groups, who say it would give a free pass to mortgage servicers that have a record of consumer-protection violations.

Black Knight Financial Services, in its second deal as a publicly traded company, has bought business analytics firm Motivity Solutions.

Without the Consumer Financial Protection Bureau setting specific debt collection guidelines — including what technology agencies can use — the industry will continue a practice that harms consumers: lawsuits.

The Mortgage Industry Standards Maintenance Organization plans to simplify its membership structure, the Mortgage Bankers Association said.

Bank of America will move its mortgage servicing back onto Black Knight Financial Services' LoanSphere MSP servicing system of record.

ISGN Corp. has completed the sale of its business process outsourcing unit to Firstsource Group USA, a subsidiary of the Indian firm RP-Sanjiv Goenka Group.