Servicing

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... Keep Reading....
There was bad news for SunTrust in the latest test results from the Office of the Monitor of the National Mortgage Settlement (NMS): The company failed one of its first quarter tests related to the collection of default-related fees
There was bad news for SunTrust in the latest test results from the Office of the Monitor of the National Mortgage Settlement (NMS): The company failed one of its first quarter tests related to the collection of default-related fees. In a statement issued by NMS Monitor Joseph A. Smith Jr.,... more
Bank of America has conditionally fulfilled 97 percent of its obligation to provide $7 billion worth of consumer relief under its August 2014 settlement with the U.S. Department of Justice (DOJ) and six states
Bank of America has conditionally fulfilled 97 percent of its obligation to provide $7 billion worth of consumer relief under its August 2014 settlement with the U.S. Department of Justice (DOJ) and six states, Eric D. Green, independent Monitor of the agreement, has reported. Professor Green, in... more
The first quarter of this year saw mortgage servicers arranging 319,000 non-foreclosure solutions for distressed homeowners
Citibank scored a legal victory with an appeals court ruling that debtors that surrendered property under the Bankruptcy Code did not have the right to oppose the bank’s foreclosure efforts. According to a Bloomberg report, the Citibank case involved David and Donna Failla, who defaulted on their... more
The Mortgage Bankers Association (MBA) has presented Richard Juergens, Master CMB, with its E. Michael Rosser, CMB, MBA Education Lifetime Achievement Award
The Mortgage Bankers Association has launched One Mod: Principles for Post-HAMP Loan Modifications, which is a proposed successor program to the Home Affordable Modification Program (HAMP). One Mod draws upon the experiences of lenders familiar with HAMP to formulate universal principles that... more