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Items Tagged with 'Loan servicing'

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From HW Magazine

Comfort zone: an interview with Jay Bray

Nationstar CEO says company is sitting pretty
March 1, 2014
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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Mortgage servicer complaint? Take a number

Complaints mount against servicers
February 5, 2014
A growing percentage of complaints filed with the Consumer Financial Protection Bureau are related to mortgage foul-ups, as more and more servicers get caught fooling unsuspecting homeowners.
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PHH Mortgage settles NJ servicing investigation for $6.25M

State AG accused the servicer of misleading troubled homeowners
December 4, 2013
PHH Mortgage ends a servicing investigation launched by the New Jersey Attorney General by agreeing to pay a $6.25 million settlement.
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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
September 4, 2013
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
September 4, 2013
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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OIG examination

FHFA watchdog calls for better oversight of specialty servicers

BofA, GSE MSR mishap leads to stricter regulations
August 22, 2013
Although the Federal Housing Finance Agency approved a settlement between Fannie Mae and Bank of America by following its settlement review policy and procedures, the policy did not apply to agreements regarding the transfer of mortgage servicing.
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The Servicing Wind-Down

Retreat Capital Management to cut 73 North Texas jobs

Cloudy outlook for the servicing space as cuts loom
August 20, 2013
More layoff announcements hit the servicing space. In the latest announcement, Retreat Capital Management confirms plans to reduce its North Texas staff by 73 employees.
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Lawmakers bury gold nugget for servicers in FHA reform bill

August 1, 2013
FHA reform bill changes could benefit specialty servicers.
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From HW Magazine

Out of towners

Shipping servicing work overseas comes with a great deal of risk
August 1, 2013
Last year, it happened when Ocwen executives were giving investors a conference call. And HousingWire was on the line. During the call, which covered recent earnings and strategic vision, an Ocwen executive began...
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Ocwen India operations viewed as stable

July 29, 2013
The offshoring of mortgage servicing caught the attention of ratings giants in recent years. Inevitable questions surfaced such as do the firms maintain...
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