Servicing

The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against Ocwen Financial Corp. and its subsidiaries, accusing the company of “failing borrowers at every stage of the mortgage servicing process.” The CFPB noted that the Florida Attorney General and “many state financial regulators... Keep Reading....
LRES has announced that the company launched a complete lien alert solution to enable servicers to continuously stay informed with the latest updates on their loan inventory. LRES’ lien solution offers the choice between 10 lien activity alerts that flag servicers with any changes to their loan... more
Citigroup has announced that it has executed agreements that will accelerate the transformation of the U.S. mortgage business by exiting servicing operations by the end of 2018
Citigroup has announced that it has executed agreements that will accelerate the transformation of the U.S. mortgage business by exiting servicing operations by the end of 2018 to intensify focus on originations. The strategic action is intended to simplify CitiMortgage’s operations, reduce... more
RoundPoint Mortgage Servicing Corporation has announced that it has been selected as the sole servicing partner by Point, the first financial technology platform that allows homeowners to unlock their home equity wealth without taking on new debt, for Point's growing portfolio of fractional... more
Mortgage defaults on first mortgages were up slightly last month, according to the latest date from S&P/Experian Consumer Credit Default Indices. The first mortgage default rate in December was 0.71 percent, up one basis point from November. However, the second mortgage default rate dropped... more