CoreLogic: Foreclosure inventory tumbles 35%

CoreLogic: Foreclosure inventory tumbles 35%

But don't celebrate just yet

Only “Number Jesters” report 2Q economic growth at 4% pace

Economic revisions infuriate

4 factors weighing down housing in the second half of 2014

Will housing collapse?

Items Tagged with 'servicing'


Fitch: Statebridge assigned "outlook stable" rating

Rating based on evidenced servicing capabilities
July 30, 2014
"Statebridge has an experienced senior management team, developed recruiting, staffing, and retention programs, and developed loan and default administration capabilities," Fitch Ratings said.
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HomeStreet sells MSRs, mortgages

Reduces mortgage concentration
July 29, 2014
HomeStreet sold $211 million of its held-for investment single-family mortgages in the second quarter, recognizing a $3.9 million gain.
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Freedom Mortgage originations grow despite industry pullback

Smaller lenders steal more market share
July 22, 2014
As bigger players see a contraction in originations, Freedom Mortgage is recording strong growth.
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Real Estate Strategies launches low-balance mortgage solution

Closes sale of more than 1,300 mortgage notes
July 21, 2014
Real Estate Strategies, a brokerage firm, closed the sale of more than 1,300 mortgage notes with an average unpaid balance of $75,000, with a new solution that is designed to address lower balance mortgages.
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Fay Servicing breaks into REO business

Selects Glenn Brooks to lead as SVP
July 1, 2014
Fay Servicing is launching an REO division, allowing the company to design optimal resolution and marketing strategies in order to maximize on returns on each asset.
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Moody’s warns on Green Tree after servicing failures

Performance could hamper business with GSEs
May 27, 2014
Recent test results are putting a spotlight on Green Tree, according to analysts at Moody's Investors Service. As a result, Green Tree may find it harder to grow its business through mortgage servicing rights purchases in the short term, but the credit ratings agency said the threat to RMBS is minimal.
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Ocwen’s bad day just got worse

Hit with class action lawsuit in Pennsylvania over servicing practices
May 20, 2014
Hours after a regulator promised more nonbank crackdowns, Ocwen got sued in federal court. The group of homeowners allege the company engaged in substandard and illegal servicing practices that violated Pennsylvania state law and RESPA.
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Ocwen names new chief financial officer

15-year GE veteran Michael Bourque takes over for John Britti
May 19, 2014
Bourque, 36, is set to take over for John Britti, who was the company’s previous executive vice president and CFO. During the company’s first-quarter earnings conference call on May 1, the company announced that Britti had been promoted to chief investment officer.
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Green Tree fails 8 servicing compliance tests

Monitor: BofA, Chase, Citi, Ocwen, Wells Fargo pass all tests
May 14, 2014
“After extensive testing, I can confirm that Green Tree failed eight metrics,” said Joseph Smith, monitor of the National Mortgage Settlement. “These results show that Green Tree must make significant changes to improve its practices and comply with the Settlement.”
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Walter Investment's EPS of $1.53 beats estimates by $0.55

Misses on revenue, but servicing sector sees growth of 35%
May 8, 2014
Core earnings for the first quarter were $58.0 million after taxes, or $1.53 per diluted share, compared to the prior year quarter's core earnings of $58.9 million, or $1.57 per diluted share.
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