Items Tagged with 'Servicers'


MGIC delinquencies down by more than 20%

What housing bubble?
While consumers are feeling less optimistic about the economy, and even fear a rising housing bubble, MGIC released data for August that shows delinquencies are actually decreasing. In fact, not only are they decreasing, but at significantly high rates compared to last year.
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CFPB publishes 900-page final rule on mortgage servicing

NAFCU pushes back against new rule's "unintended consequences"
In a wide-ranging final rule for mortgage servicers, the CFPB has expanded protections for consumers in several key areas, including providing borrowers with foreclosure protection more than once over the life of the loan, expanding consumer protections to surviving family members and clarifying loss-mitigation timelines during servicing transfers.
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Quicken Loans: 5 ways servicers can satisfy customers and increase profits

There's a reason it's No. 1 in customer satisfaction
After winning the top spot in J.D. Power’s 2016 Primary Mortgage Servicer Satisfaction Study for the third straight year, HousingWire wanted to pull back the curtain on Quicken Loans' success to find out how it stays No. 1. Want to know the secret? Here's a preview of one of its tips: "Our social media team monitors 24 hours a day for feedback and we respond to clients, and virtually anyone who writes us, within 10 minutes."
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CFPB: Best practices on how to continue loss-mitigation needs

Lessons from HAMP
Besides the start of a new year, Jan. 1, 2017 will also mark the first time since 2009 that the government’s Home Affordable Modification Program and Home Affordable Refinance Program will not exist. But now that the end date on these programs is rapidly approaching, government agencies are quickly reminding the industry of the loss-mitigation programs and options available. This includes the CFPB.
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California loss-mitigation bill creates more problems than it solves

Here are 8 unclear and dangerous provisions of bill
California continues its effort to pass a law that would require loan servicers to work with successors to borrowers on loss mitigation options. Unfortunately, SB 1150, while well intended, has the potential to create more problems than it solves. Here are just some of the unclear and dangerous provisions of bill.
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It’s official: Original NMS servicers pass final metric tests

BofA, Chase, Citi, Wells Fargo, Ditech now done
The original servicers of the National Mortgage Settlement finished the final metric tests, marking the completion of the NMS rules for the servicers. After lot of tests and oversight, these five banks undertook more than 630,000 transactions and provided borrowers with more than $50 billion in consumer relief.
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