Servicing

In a move that will re-design the options available to credit unions for servicing first mortgage loans, myCUmortgage announced that it has launched its new mortgage servicing operation
In a move that will re-design the options available to credit unions for servicing first mortgage loans, myCUmortgage announced that it has launched its new mortgage servicing operation. myCUmortgage is a leading Credit Union Service Organization (CUSO), wholly-owned by Wright-Patt Credit Union... Keep Reading....
There was good news and not-so-great news in this morning’s residential market data reports. First, the good news: the U.S. foreclosure inventory declined in April by 23.4 percent and completed foreclosures declined by 15.8 percent in comparison to April 2015, according to CoreLogic. On a year-over... more
The Office of the Comptroller of the Currency (OCC) has announced the conclusion of its mortgage servicing-related order against Wells Fargo Bank
The Office of the Comptroller of the Currency (OCC) has announced the conclusion of its mortgage servicing-related order against Wells Fargo Bank and charged the San Francisco-based lender with a $70 million civil money penalty for previous violations of the order. The OCC’s originally issued its... more
The Department of the Treasury has announced the final allocation from the Hardest Hit Fund, with $1 billion being presented to housing finance agencies in 13 states. “Today’s announcement continues Treasury’s commitment to provide relief to struggling homeowners and help stabilize neighborhoods in... more
Two years after the Ability-to-Repay (ATR) rule was forced on the industry, residential mortgage servicers have yet to see any borrower claims
Two years after the Ability-to-Repay (ATR) rule was forced on the industry, residential mortgage servicers have yet to see any borrower claims, according to a new study by Fitch Ratings. However, the ratings agency noted that the lack of claims should not be seen as evidence that ATR is a flop. “... more