Servicing

First mortgage default rates were on the decline, but second mortgage defaults took an uptick, according to the latest S&P/Experian Consumer Credit Default Indices report
First mortgage default rates were on the decline, but second mortgage defaults took an uptick, according to the latest S&P/Experian Consumer Credit Default Indices report.   The index level for first mortgage defaults dropped from 0.69 percent in April to 0.64 percent in May. However, the level... Keep Reading....
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
CoreLogic has released its February 2016 National Foreclosure Report ,which shows the foreclosure inventory declined by 23.9 percent and completed foreclosures declined by 10 percent
The foreclosure inventory declined by 23.9 percent and completed foreclosures declined by 10 percent on a year-over-year basis in February, according to new data from CoreLogic, while the number of completed foreclosures nationwide decreased to 34,000 from 38,000 one year earlier. The February... more
Ocwen Financial Corporation and the NAACP are renewing their “Help & Hope for Homeowners” seminars for another year
Ocwen Financial Corporation and the NAACP are renewing their “Help & Hope for Homeowners” seminars for another year, with events planned this summer across Florida, New Jersey, Texas and Washington. The “Help & Hope for Homeowners” events connect financially distressed homeowners with Ocwen... more
With the Home Affordable Refinance Program (HARP) set to expire at the end of the year, Federal Housing Finance Agency (FHFA) Director Mel Watt is seeking to lay the foundation of a market that will not leave at-risk homeowners in difficult financial situ
With the Home Affordable Refinance Program (HARP) set to expire at the end of the year, Federal Housing Finance Agency (FHFA) Director Mel Watt is seeking to lay the foundation of a market that will not leave at-risk homeowners in difficult financial situations. Speaking today in Washington, D.C.,... more