Cover Story
Best Practices For Mortgage Boarding, Workflow Automation And Document Management
How to address three highly challenging pain points in loan onboarding.
Front Office
Oh When The States Come Marching In …
In January, most servicing professionals were anxious about the potential for regulatory rollback under the Trump administration and how it might impact the servicing industry. After having made significant investment in new technology, staffing and training in order to meet new regulatory requirements, including the Consumer Financial Protection Bureau’s (CFPB) final servicing rules, some servicing [...]
Loan Administration
Ocwen Vows To Fight Regulatory Actions Brought By CFPB Taking a page from the PHH Mortgage regulatory defense playbook, mortgage servicer Ocwen Financial Corp. is seeking to have a complaint from the Consumer Financial Protection Bureau (CFPB) tossed on the grounds that the CFPB’s leadership structure is unconstitutional. The mortgage servicer recently filed two related [...]
Delinquency & Default
MBA: Mortgage Delinquency Rate Continued To Fall In Q1 The mortgage delinquency rate (30 days or more past due) as of the end of the first quarter stood at about 4.71%, down nine basis points compared with the previous quarter and down six basis points compared with the first quarter of 2016, according to the [...]
Foreclosure Starts Fell 6% In April About 34,085 foreclosures were started in April – down 6% compared with March and down 22% compared with April 2016, according to ATTOM Data Solutions. That’s well below the pre-recession average of more than 77,000 foreclosure starts per month between April 2005 and November 2007. However, there were certain [...]
FHFA, Fannie Mae Cease Selling REOs To Rent-To-Own Companies Fannie Mae has recently ceased all sales of real estate owned (REO) properties to Vision Property Management – and, in fact, all other “rent-to-own” companies – after an investigation revealed that some of the homes Vision offered on a rent-to-own basis had lead paint, failing septic [...]
Directory of Mortgage Servicing Vendors
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Field Services
Beyond Property Preservation: Proactively Tracking Legislation
Field services companies must keep track of ever-changing federal, state and local laws that affect how they operate - preferably in near real time.
Property Preservation
Blight Laws And The Movement Away From Plywood
Fannie Mae and the state of Ohio recently implemented new rules requiring banks and servicers to install plastic clear coating over windows on REOs instead of plywood.
REO Management
Balancing Automation With Human Interaction In Distressed Asset Management
With fewer NPLs and REOs for sale and at tighter margins, investors must be more opportunistic in their approach to buying.