Servicing

First mortgage default rates were on the decline, but second mortgage defaults took an uptick, according to the latest S&P/Experian Consumer Credit Default Indices report
First mortgage default rates were on the decline, but second mortgage defaults took an uptick, according to the latest S&P/Experian Consumer Credit Default Indices report.   The index level for first mortgage defaults dropped from 0.69 percent in April to 0.64 percent in May. However, the level... Keep Reading....
The Consumer Financial Protection Bureau (CFPB) has fined Chicago-based Fay Servicing $1.15 million for allegedly failing to provide mortgage borrowers with proper information and protections against foreclosure
The Consumer Financial Protection Bureau (CFPB) has reached an agreement with Chicago-based Fay Servicing for $1.15 million for allegedly failing to provide mortgage borrowers with proper information and protections against foreclosure.   The CFPB charged the company with failing to provide... more
Ocwen Financial Corporation and HomeFree-USA will co-host a borrower outreach event in Riverdale, Md. to help Maryland homeowners who are struggling to meet their mortgage obligations
Ocwen Financial Corporation and HomeFree-USA will co-host a borrower outreach event in Riverdale, Md. to help Maryland homeowners who are struggling to meet their mortgage obligations. This event, “More Help for Homeowners” will be held on June 8 from 1:00 p.m.-7:00 p.m. ET at HomeFree-USA's... more
Require Holdings has announced that it has completed its acquisition of Service 1st Valuation and Settlement Services Inc.
Require Holdings has announced that it has completed its acquisition of Service 1st Valuation and Settlement Services Inc. Service 1st is a provider of valuation risk management services, including: Desk reviews, valuation risk analysis, field reviews and market data.   The company will be a wholly... more
Ocwen Financial Corporation has announced that it is working with New Residential towards an agreement that would further solidify and enhance the business relationship between the two companies
Ocwen Financial Corporation has announced that it is working with New Residential towards an agreement that would further solidify and enhance the business relationship between the two companies. The proposed new agreement relates to approximately $117 billion in mortgage servicing rights (MSRs),... more