Servicing

Ocwen Financial Corporation has announced loan modification borrower assistance results for struggling Ohio homeowners through the third quarter of 2017
Ocwen Financial Corporation has announced loan modification borrower assistance results for struggling Ohio homeowners through the third quarter of 2017.   Working closely with non-profit agencies in the first nine months of 2017, Ocwen forgave approximately $14.6 million in mortgage debt and... Keep Reading....
Applied Business Software (ABS) has announced that RCN Capital has chosen The Mortgage Office software to automate its back office servicing operations
Applied Business Software (ABS) has announced that RCN Capital has chosen The Mortgage Office software to automate its back office servicing operations.   RCN has become ABS’s latest customer in a roster that includes some of the highest volume lenders in the nation.   “We are excited about moving... more
Four years after Superstorm Sandy devastated the coastal properties in the Northeast
Foreclosures in New York City saw a 79 percent year-over-year increase in the third quarter, according to new data from PropertyShark, which also reported a 145 percent year-over-year spike in the Bronx, a 118 percent year-over-year surge in Brooklyn.   What do these percentages mean? The Bronx... more
The Consumer Financial Protection Bureau (CFPB) has released a set of principles designed to protect consumers when they authorize third party companies to access their financial data
The Consumer Financial Protection Bureau (CFPB) issued an interim final rule and a proposed rule to provide mortgage servicers designed to alleviate and clarify requirements related to communicating with borrowers.   According to the CFPB, the interim final rule will provide servicers with more... more
Wells Fargo has announced that it will issue refunds on fees that were charged to mortgage borrowers whose loan applications were delayed because of the bank
Wells Fargo & Co. has acquired approximately $51 billion in mortgage servicing rights (MSRs) from New York-based Seneca Mortgage Investment. The terms of the transaction were not disclosed.   According to Wells Fargo, the loans underlying the MSRs are conventional/conforming loans guaranteed by... more