Servicing

First American Financial Corp. has announced that it will acquire Bank of America’s lien release business, which includes an agreement to provide these services to Bank of America
First American Financial Corp. has announced that it will acquire Bank of America’s lien release business, which includes an agreement to provide these services to Bank of America.   The transaction is expected to close in the first quarter of 2018, and the bank’s lien business employees will... Keep Reading....
The Trump Administration’s charge that the Consumer Financial Protection Bureau (CFPB) was promoting a partisan agenda may not be entirely wrong, according to the Center for Responsive Politics’ Open Secrets Web site analysis of political donations made b
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
The national delinquency rate recorded its second year-over-year increase in October due to the impact of Hurricanes Harvey and Irma, according to new data from Black Knight Inc.
The devastation left behind by Hurricane Harvey could result in 300,000 new mortgage delinquencies, with 160,000 borrowers becoming 90 days or more past due, according to a new forecast from Black Knight Financial Services (BKFS).   This new forecast is based on a comparison to the 2005 damage left... more
Ocwen Financial Corporation has announced loan modification borrower assistance results for the first half of 2017, as the company helped approximately 30,000 families avoid foreclosure and remain in their homes in the first six months of 2017
Ocwen Financial Corporation has announced loan modification borrower assistance results for the first half of 2017, as the company helped approximately 30,000 families avoid foreclosure and remain in their homes in the first six months of 2017.   Since the sunset of the U.S. Department of the... more