Servicing

From HW Magazine

DIMONT's self-service web portal offers an efficient collateral protection solution

Loss Draft service provides customizable and real-time reporting to servicers
Built in partnership with Indisoft, DIMONT's Loss Draft portal enables borrowers, mortgage institutions, and DIMONT claims personnel to upload claims-related documentation and to share case status information electronically, while allowing servicers to maintain direct borrower contact through existing call centers. 
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From HW Magazine

Developing internal talent for the next generation of mortgage servicing leaders

Identifying strong candidates and providing specialized training is key
Training and organizational development are vital to the success of any industry-leading organization. Keeping an eye on the talent in-house is critical to developing a strong organization and building a skilled leadership team. This includes providing customized training, developing industry-based educational programs, leadership development and identifying emerging leaders within your organization.
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From HW Magazine

Mortgage servicers still face headwinds under CFPB amended rules

Billing statements and servicing transfers represent continued risk
We’ve found that the handling and posting of payments during bankruptcy has been a widespread issue in our testing environment. Specifically, there is increased risk exposure in pre-and post-petition payment application and treatment, both inside and outside of the bankruptcy plan. Servicers and sub-servicers have created manual workflow workarounds to address the issue, however, it does open the servicer up to more exposure to calculation errors.
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Massachusetts hits Nationstar (aka Mr. Cooper) with fine, sanctions over servicing abuses

Accused of offering borrowers “unfair and deceptive” mortgage modifications
Nationstar Mortgage, the nonbank now known as Mr. Cooper, allegedly put hundreds of borrowers in Massachusetts at a heightened risk of foreclosure by offering them “unfair and deceptive” mortgage modifications, the state’s attorney general said Tuesday. “Nationstar failed to stop foreclosures and this settlement gives homeowners in the hardest hit areas in Massachusetts a chance to stay in their homes,” Massachusetts AG Maura Healey said.
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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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Ocwen reaches mortgage settlements with two more states, inks new deal with New Residential

SEC filing reveals cavalcade of news about nonbank
Ocwen disclosed Friday that it reached a settlement with two more of the 31 states that took regulatory actions against the nonbank last year over alleged escrow and other servicing issues. But that wasn’t the only interesting item that Ocwen disclosed in its latest SEC filing.
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Former owner of foreclosure rescue business admits to stealing borrowers’ homes, equity

Convinced struggling borrowers to sign over title, then stole their equity
The former owner of a California foreclosure rescue firm admitted in court last week to stealing struggling borrowers’ homes during the housing crisis. According to court documents, Sergio Barrientos convinced struggling borrowers to sign away the title to their homes, then spent any equity those homeowners had saved.
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