Items Tagged with 'mortgage servicing'


HUD watchdog: Servicer foreclosure delays cost FHA $2.23 billion

Report finds FHA overpaid servicers due to foreclosure, conveyance delays
A new report from a government watchdog shows that mortgage servicers’ delays in foreclosing on properties and subsequent delays in the conveyance of those properties to the Federal Housing Administration cost the FHA as much as $2.23 billion in unnecessary payouts.
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Fiserv, Corelogic partner to accelerate loan modification process

CoreLogic loan modification tool will be integrated into Fiserv servicing platform
Fiserv, a provider of financial services technology solutions, announced today that it reached an agreement with CoreLogic, a property information, analytics and data-enabled services provider, to integrate Corelogic’s IntelliMods loan modification tool into LoanServ, Fiserv’s loan servicing platform.
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PHH takes another hit as BofA Merrill Lynch pulls mortgage servicing portfolio

Bank of America terminates agreement without cause
It only took a little more than six months for Bank of America Merrill Lynch to decide to pull the rest of its mortgage servicing business from PHH Mortgage Corp., marking another devastating blow for the company. Effective March 31, 2017, PHH will no longer provide private label origination services on behalf of Merrill Lynch.
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This chart proves homeowners are getting better at paying their mortgage

OCC: Foreclosures down 31%
Borrowers continued to get better at paying their mortgages as they move further into the year, with more people reported to be paying their mortgage on time than last year. While the overall performance of mortgages in this report remained relatively unchanged from the previous quarter, here’s how it changed since last year.
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Compass Point: Buy Ocwen now, company is ready to grow

Financial analyst upgrades nonbank, raises price targets
Things are looking up, just a bit, for Ocwen Financial. As a result of some recent moves, Ocwen’s stock rose over the last few months, and according to a new report from Compass Point Research & Trading, the stock is going to continue to rise and the time to buy is now.
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HSBC yanks massive PHH mortgage servicing portfolio

PHH's subservicing portfolio will be cut by nearly 30%
It appears that PHH Corp. is dealing with a subservicing problem on its hands. For the second time in four months, the company is about to lose a large portion of its mortgage portfolio. The details this time around seem all too familiar.
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FHA makes it easier for struggling borrowers to keep their homes

Announces "streamlined" loss mitigation process for mortgage servicers
Borrowers with a high loan-to-value ratio mortgage received some welcome news on Thursday morning when the Federal Housing Finance Agency announced that it plans to extend the Home Affordable Refinance Program into 2017. But what about struggling borrowers whose loans are insured by the Federal Housing Administration? Well, those borrowers are now about to get some relief of their own.
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Ocwen rising: S&P upgrades nonbank's servicer rankings

Stock soars after ratings agency reveals positive outlook
Last month, HousingWire pondered if there was a light at the end of the tunnel for Ocwen Financial after the nonbank posted another loss in the second quarter, with company executives stating a belief that the nonbank can return to profitability as it puts "legacy" issues behind it. Now, Ocwen is putting one of those issues in the rear view mirror, as Standard & Poor's is upgrading the nonbank’s servicer rankings.
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Whither Mr. Cooper? When is Nationstar's rebranding actually going to happen?

Company noticeably silent on rebranding efforts in earnings materials
Earlier this year, Nationstar Mortgage confirmed that the company would be launching a massive rebranding effort, combining its originations and servicing business under the name Mr. Cooper, with a plan to begin using the new name in the summer of 2016. Well, as the calendar ticks towards fall with little movement on the Mr. Cooper front, at least officially, it begs the questions: Is Nationstar actually going to rebrand to Mr. Cooper or not? And if so, when?
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