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Items Tagged with 'servicing'

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$4 billion more in bulk MSRs available for purchase

Brings total MSR offerings to more than $18 billion since April
Ben Lane
A $4 billion bulk MSR portfolio backed by Fannie Mae is currently out for bid, according to Interactive Mortgage Advisors, which is acting as the exclusive broker for the offering.
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SecureView lands giant Fannie Mae field-services deal

Certain states must now use clear "boards"
Brena Swanson
Good news for SecureView: The company landed a giant deal with Fannie Mae, which is officially requiring vendors to install the distinct, clear boarding to secure vacant properties. The contract is being rolled out, gradually, in many states.
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Outrageous jury award reveals contempt for mortgage lenders

Borrowers need saving, from themselves
Lynn Effinger
This large judgment that hammers PHH, comes amid concerns regarding potential crackdowns by the Consumer Financial Protection Bureau on servicers who fail to adapt stringent new rules requiring better communication with borrowers who are in default.
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Ocwen to restate 2Q14 earnings

There may be a "material weakness"
Brena Swanson
Ocwen Financial Services Corp. said it would restate earnings because of accounting problems, after its auditor found what may be "a material weakness'' in the way it recorded the value of certain debt.
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Nationstar completes exit from reverse mortgage origination business

Remains focused on the servicing side
Jacob Gaffney
Business is booming at Nationstar Mortgage. And that's a business that no longer includes the origination of reverse mortgages.
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Fitch: Statebridge assigned "outlook stable" rating

Rating based on evidenced servicing capabilities
Brena Swanson
"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
Brena Swanson
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
Brena Swanson
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
Brena Swanson
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
Brena Swanson
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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