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...

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.

They Said It

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"Structuring the AG settlement credits this way makes it more of an additive for principal reduction," Kingsley said. "This way, more borrowers could potentially receive some form of reduced principal."

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The Ticker

» Study finds same-sex couples face housing bias

» Servicers foreclosing in Lynn, Mass. face hard-hitting ordinance

» Foreclosure filings plummet, fall 50% in Colorado

» Rates rising too quickly could hurt housing recovery

» Arnold Schwarzenegger sells former Pacific Palisades home

» Industry runs thin on lender talent

» NY AG fights Credit Suisse MBS case

» Pressure looms to enchance risk management of MBS market

» What the central bank chairman wants to say, but won't

» Nestio launches listing management platform for landlords

Servicing News

Ex-BofA employees allege mishandling of HAMP applications

Virginia court: Mortgage servicers can foreclose, despite alleged promises to borrower

Ocwen enters massive MSR agreement with OneWest Bank

RealtyTrac: May foreclosures inch up 2%

Housing recovery evolves mortgage modification landscape

CoreLogic: Nearly 1 million houses float back into positive equity

Monday Morning Cup of Coffee: Mixed reactions on Florida foreclosure bill

Florida governor signs bill to speed up state's foreclosure process

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.

June Cover Story

Virtual realty: HousingWire's top 50 real estate tech solutions

HousingWire introduces its inaugural RETech:50 highlighting the accomplishments of 50 technology-driven real estate companies.

Feature

Private-label RMBS trailblazer Redwood Trust sets aggressive issuance pace

by Christina Mlynski

There are only a handful of consistencies investors can rely on in the private-label market these days. Redwood Trust issuing at least one residential mortgage-backed securities deal a month is one.

Commentary

Too big to fail remains issue

by David Altig

As Federal Reserve Chairman Ben Bernanke has indicated, too-big-to-fail remains a major issue that is not solved, but "there’s a lot of work in train."

Servicing

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