Articles Tagged with ''Mortgage servicer''

Here are the top 5 mortgage servicers

And what they’re doing right
Despite recent technological advancements in the mortgage industry, servicers continue to fall behind in an already lagging industry. The latest survey from J.D. Power shows Americans are not impressed. But some mortgage servicers did stand out above the rest, here are the top five.
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RoundPoint Mortgage Servicing adds five executives

Nonbank servicer bolsters senior management team
Nonbank servicer RoundPoint Mortgage has added five executives to its senior management team. The company has added three execs to its Dallas office: Michael Shidler, VP of Servicing Transfers Frank Ciesielski, and VP of Corporate Compliance Chalise Freitag. Joining the company at its Charlotte, N.C., headquarters is VP of Marketing Roman Vega and VP of Investor Reporting Ronda Schrader.
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CFPB giving servicers “more latitude” in dealing with borrowers in bankruptcy

Issues final rule on communication with certain borrowers
Mortgage servicers are about to have “more latitude” when it comes to dealing with borrowers entering or exiting bankruptcy, the Consumer Financial Protection Bureau announced Thursday. The CFPB announced a final rule relating to certain borrowers facing bankruptcy. The rule was initially released by the CFPB back in October, but now the bureau is finalizing the rule.
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BOK Financial Mortgage appoints Lee Wardlow director of loan servicing

Joins from Bank of America
BOK Financial Mortgage, a division of BOK Financial, recently announced the hiring of Lee Wardlow to lead its mortgage servicing business. Wardlow will serve as director of loan servicing for BOK Financial Mortgage, which boasts a servicing portfolio of approximately $23.1 billion spread across 144,000 customers in the U.S.
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Ocwen reaches mortgage servicing settlement with Connecticut

Settlement stipulates that Ocwen will pay $500,000 fine if it doesn’t comply
Ocwen Financial is one step closer to ridding itself of the mortgage servicing restrictions placed on the nonbank last year when 31 states took regulatory actions over alleged escrow and other servicing issues. Ocwen disclosed late Thursday in a SEC filing that it reached a servicing settlement with the state of Connecticut.
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Pennsylvania now requires nonbank servicers to be licensed to operate in state

Deadline for licensing applications is June 30, 2018
Nonbank mortgage servicers have five months to get licensed in the state of Pennsylvania if they want to keep operating in the state. The Pennsylvania Department of Banking and Securities announced this week that it will soon begin accepting licensing applications from nonbank servicers as part of the state’s move to increase oversight into mortgage servicing.
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S&P: Impact of CFPB shakeup, deregulation will be limited for mortgage servicers

Trump administration’s changes will not undo years of heavy regulation
Given the Trump administration’s stated mission of decreasing regulations, it’s a fairly safe bet that whoever Trump picks as CFPB director will have a vastly different view of regulation than former director Richard Cordray did. But what will the impact of that looming deregulation have on mortgage servicers? Not very much, according to a recent report from S&P Global Ratings.
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Ocwen reaches mortgage servicing settlement with Texas

Latest in string of settlement with state mortgage regulators
Another day, another mortgage servicing settlement for Ocwen Financial. Recently, the nonbank has been on a settlement streak, reaching agreements with 20 of the 31 states that took regulatory actions against Ocwen earlier this year over alleged escrow issues and restricted Ocwen’s ability to acquire new mortgage servicing rights and originate new loans. Now, it’s Texas’ turn.
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Ocwen settles with three more states to ease mortgage servicing restrictions

Add Arkansas, Tennessee, and Washington, D.C. to the list
Ocwen Financial’s streak of settling with states that previously restricted Ocwen’s ability to acquire new mortgage servicing rights and originate new loans in each state continues. The nonbank disclosed Tuesday that it reached agreements with Arkansas, Tennessee, and the District of Columbia, bringing the total number of states it’s settled with to 20.
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