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Items Tagged with 'Servicers'

ARTICLES

CFPB proposes 7 big changes to foreclosure process for mortgage servicers

Adds guidance on extended borrower protections
Brena Swanson
The Consumer Financial Protection Bureau is proposing additional measures to ensure that homeowners are treated fairly by mortgage servicers. Here are the key changes.
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Is Nationstar downgrade an alarm for nonbank mortgage servicers?

The future looking tough
Brena Swanson
The future for nonbank mortgage servicers looks tough as earnings for the sector are forecast to trend down, driven mainly by three industry headwinds.
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Mortgage servicers trend toward multiple field-service providers

Is it time to spread out the grunt work?
Lynn Effinger
With so many changes taking place in the default servicing arena, with heightened focus on regulations and compliance issues, one solution being chosen by some lenders, servicers and investors is to contract with multiple field service providers, rather than a single “national” provider.
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Servicer differences cause RMBS cashflow volatility

Bondholder payment delays, investment shortfalls
Trey Garrison
Bondholder payments were delayed in a number of recent transactions due to differences in approaches between bank and nonbank RMBS servicers, Fitch Ratings says.
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Jim Foley named Caliber Home Loans Regional VP

Takes over Washington, D.C., Maryland and Virginia territories
HousingWire Staff
Caliber Home Loans named Jim Foley as regional vice president for the Washington, D.C., Maryland and Virginia territories, who brings 29 years of experience in mortgage lending arena.
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HOPE NOW assists 768,000 borrowers in 2013

281,000 short sales completed last year
Brena Swanson
Approximately 768,000 homeowners received permanent, affordable loan modifications from mortgage servicers in 2013, according to HOPE NOW’s final 2013 loan modification data.
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HMDA reporting could always get better

CFPB strives to realign and simplify lender reporting
Brena Swanson
Over the past 35 years, a surplus of new regulations has shaped a completely different housing market, making the Home Mortgage Disclosure Act outdated. As a result, the Consumer Financial Protection Bureau set out to realign HMDA to present day needs.
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CFPB: Servicers still engaged in unfair or deceptive practices

Consumer bureau gets firms to pay $2.6M to settle issues with consumers
Kerri Ann Panchuk
The Consumer Financial Protection Bureau says between July and October 2013, consumers who complained to the CFPB ended up receiving $2.6 million in payments from financial firms accused of engaging in poor servicing practices.
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Nationstar downgraded a notch

Origination headwinds shift early 2014 outlook
Kerri Ann Panchuk
FBR Capital Markets remains confident in Nationstar, but as originations slow, it is lowering earnings per share estimates for the servicing giant.
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Private MIs focus on education as lenders adapt to QM world

Radian, United Guaranty offer educational seminars, resources
Lenders and servicers are not the only ones adjusting to the enactment of the qualified mortgage rule and new servicing guidelines, mortgage insurers also took it upon themselves to educate clients in the lending space over the past several months.
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