Servicing

June 19, 2013
Closer look: Mortgage servicers pass most key tests

The sky is not completely falling at servicing shops across the United States, despite a new report from the...

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BofA, Citi, Chase, Wells Fargo fail key servicing tests

Recent servicing compliance tests applied to the nation’s top financial institutions resulted in five test fails among top mortgage servicers, including Bank of America, JP Morgan Chase, Citi and Wells Fargo, according to Joseph Smith, monitor of the National Mortgage Settlement.

Parties foreclosing on Chicago rentals face new obligations

Parties who acquire residential rental properties via a foreclosure or deed in lieu of foreclosure in Chicago are now required to provide an option to renew the lease or offer relocation assistance to a "qualified tenant."

ReWired

The pending mortgage servicer shakeout

No one can deny that the last few years have been good for companies that are in the mortgage servicing business. But as the U.S. economy continues to recover and historic default and foreclosure rates normalize, some of the firms in this space are feeling the pressure to offer more in order to maintain their business levels.

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