Servicing

The increased use of alternatives to traditional residential property appraisals has the potential to dilute the credit quality of new residential mortgage-backed securities (RMBS) unless certain risks are mitigated
The increased use of alternatives to traditional residential property appraisals has the potential to dilute the credit quality of new residential mortgage-backed securities (RMBS) unless certain risks are mitigated, according to a new report from Moody’s Investors Service.   In its report, Moody’s... Keep Reading....
The Mortgage Bankers Association (MBA) announced that, in October
The Mortgage Bankers Association (MBA) has raised an objection to a provision in the tax bill being put forth by Senate Republicans that that significantly changes the tax code regarding mortgage servicing rights (MSRs).   The provision (Section 13221) requires that any item of income that an... more
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... more
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