Walter Investment fined $29.6 million for False Claims Act violations

Walter Investment fined $29.6 million for False Claims Act violations

Subsidiaries allegedly submitted false reverse mortgage claims to HUD

The Wrap: Appraisal volume ticks down after two weeks up

New tips, tools and tricks of the trade

Dear Parents, don’t expect your homebuying Millennials to pay you back

loanDepot graph shows they can barely save for retirement
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Items Tagged with 'Loan servicing'

ARTICLES

From HW Magazine

Walter Investment: Can the specialty servicer reverse stock performance?

Walter Investment has bad news, bad news, and good news
Walter Investment Management posted a second-quarter net loss of $12.9 million, or $0.34 per diluted share, which includes charges related to goodwill impairment in the reverse mortgage segment and reductions in the fair value of the company’s servicing rights related to changes in valuation inputs.
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Fees and costs: It's time to redefine reasonable

The road ahead for mortgage servicing must include a new set of transparent business practices
Recent events within the servicing industry have challenged common business practice – and that means that everything that has been done in the past now needs to be re-examined, rationalized, and made transparent.
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From HW Magazine

Comfort zone: an interview with Jay Bray

Nationstar CEO says company is sitting pretty
Managing a tough environment is nothing new to Nationstar President and CEO Jay Bray. His portfolio sits around a quarter full with distressed loans. He’s used to complaints, he can handle them. Bray is easygoing through it all. All things considered, this is Bray’s comfort zone.
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From HW Magazine

Back to the baseline

Improving economy gives borrowers more opportunity to refinance out of the servicer's portfolio
Mortgage loan servicing is a great business when nothing changes. If borrowers continue to pay every month as agreed and they remain in the portfolio for many years, a good loan servicing shop will do very well. We haven’t seen those conditions in quite some time.
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From HW Magazine

Line in the sand

Changes to Texas expedited-order foreclosure proceedings mean courts can demand mediation
In 1997, Texas became the last state in the nation to adopt home equity lending with an amendment to the state constitution. In the event borrowers default on the loan, the lien may be foreclosed upon only by court order.
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