Servicing

Safeguard Properties icon Robert Klein passes away

Property preservation guru gone too soon
An icon in both the housing industry and in the Jewish community, Safeguard Properties Chairman Robert Klein died May 3, 2018, at age 65. Even though he officially retired, he still remained active in his community and various business interests. He will be missed and the industry is lesser without him.
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Altisource says CFPB will not fine company over relationship with Ocwen

REALServicing at the center of CFPB probe
Just over a year ago, Altisource Portfolio Solutions disclosed that the Consumer Financial Protection Bureau was investigating the company’s relationship with Ocwen Financial, but now, it looks that investigation is over. Altisource revealed Thursday that the CFPB told the company that its investigation has been completed and that the agency will not pursue an enforcement action against the company.
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Carrington in the Winner's Circle: Why we launched a nonprime mortgage product

A conversation with Rick Sharga
Executive Vice President Rick Sharga is back at Carrington Mortgage Services. Here he joins Editor-in-Chief Jacob Gaffney for the podcast series In The Winner's Circle and explains why the new nonprime is nothing like the old subprime and how they plan to reach millions of Millennials and turn them into homeowners. Plus, Sharga shares his thoughts on automation in the real estate and mortgage lending spaces. Will Realtors one day be replaced by robots? Get those answers and more in the latest In The Winner's Circle podcast.
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Waters introduces legislation to prevent FHA foreclosures

Bill would strengthen FHA mortgage servicer requirements
In an attempt to prevent foreclosures on the Federal Housing Administration’s borrowers, Democrats introduced a new bill in Congress. Democrats explained the new legislation would strengthen the requirements for and increase oversight of FHA mortgage servicers.
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Ocwen CEO Ron Faris retiring, former PHH CEO Glen Messina set to take over

Ocwen is set to buy Messina’s former company for $360 million
Ocwen Financial shocked many in the financial services industry when it announced earlier this year that it plans to buy PHH for $360 million in cash. Now, the PHH relationship is about to get a little more complex, as Ocwen announced Thursday morning that it is naming former PHH CEO Glen Messina as its new CEO and president. Messina, who left PHH just over a year ago amid an executive shakeup, will replace Ron Faris as Ocwen president and CEO.
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Ditech Holding Corp. names Thomas Marano CEO and president

Also appoints Ritesh Chaturbedi to serve as chief operating officer
The nonbank formerly known as Walter Investment Corp. named a new CEO on Wednesday. Ditech Holding Corp. announced Thomas Marano, currently chairman of the board, has been appointed to also serve as CEO and president. The company also announced it has hired Ritesh Chaturbedi to serve as chief operating officer.
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