Items Tagged with 'mortgage servicing'

ARTICLES

  • Credit Plus hires new VP of Data Solutions

    Jane House joins team to help servicers enhance portfolio management
    Credit Plus has hired Jane House as vice president of Data Solutions. As such, the mortgage industry veteran and mortgage data specialist will support the 2017 Tech100 winner's mission to broaden its application of risk management and portfolio retention tools for mortgage servicers.
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  • CFPB calls out reverse mortgage servicing problems

    Warns servicers to review documentation sent to heirs to avoid risk of deception
    As part of its ongoing effort to keep tabs on loan servicers, the Consumer Financial Protection Bureau released a report this week that highlighted problems with the servicing of reverse mortgages. According to the bureau, a recent examination brought to light the fact that some reverse mortgage servicers have issued misleading statements to the heirs of deceased reverse mortgage borrowers.
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  • Are you a part of the servicing technology revolution?

    Take this test to see how you rate
    Just as Airbnb and Lyft radically disrupted the hotel and transportation industries, the mortgage servicing industry is ripe for a technology revolution of its own. The truth is the proliferation of technology in the mortgage servicing industry is breathing new air to customers that have otherwise experienced nothing more than a great paper exchange – as long as payments are made on time.
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  • Ocwen planning to lay off more than 2,000 mortgage employees

    Nonbank will close several U.S. facilities
    Ocwen Financial plans to reduce its overall workforce by more than 2,000 employees over the course of this year, as the nonbank moves to reduce its costs after its $360 million acquisition of PHH. According to Ocwen, the company has already laid off 700 employees and plans to lay off 1,600 more by the end of the year, for a total reduction of 2,300 employees.
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  • MBA Servicing: Mortgage borrowers are now your biggest asset

    5 takeaways from the conference
    One of the limitations mortgage servicers face is the relatively small margin baked into servicing. You can’t just raise the cost of servicing, so what can you do? You can leverage your unique 30-year relationship with the consumer to expand into different business lines.
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  • 
TMS obtains provisional approval for three blockchain servicing patents

    Three patents will introduce servicing data and records to the blockchain
    Financial services and mortgage company TMS announced it has received provisional approval for three blockchain-related servicing patents. The company explained that through its subservicing platform SIME, or Servicing Intelligence Made Easy, the three patents will introduce servicing data and records to the blockchain for the first time. 
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  • MBA Servicing: What does the future of mortgage servicing look like?

    Panel calls for more innovation in servicing
    Leaders from the FHFA, USDA and VA took the stage at the Mortgage Bankers Association’s Servicing conference Tuesday to talk about the future of mortgage servicing. So what does that future look like? More M&A, more tech investment and, if you’ve got a really long lens, more standardization.
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  • SN Servicing fined for failing to maintain New York zombie homes

    NYDFS fines servicer for not properly maintaining two homes
    SN Servicing must pay a six-figure fine for failing to maintain a pair of vacant homes in New York, the state’s financial regulator announced last week. According to the NYDFS, SN Servicing did not properly maintain the two properties for 230 and 232 days, respectively.
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  • Shellpoint reaches $4 million settlement for allegedly violating Massachusetts foreclosure laws

    Mortgage servicer will provide $3.5 million in principal reduction
    Shellpoint Mortgage Servicing will provide Massachusetts homeowners with $3.5 million in principal reductions as part of a settlement with the state for allegedly violating Massachusetts foreclosure laws and “failing to help homeowners avoid foreclosure.”
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  • Ocwen completes $360 million acquisition of PHH, Glen Messina takes over as CEO

    Former PHH CEO assumes leadership of newly combined company
    PHH Corp. is now officially part of Ocwen Financial, as Ocwen’s $360 million acquisition of PHH is now complete, the companies announced Thursday morning. But those aren’t the only big changes for Ocwen and PHH. In conjunction with the deal’s closing, former PHH CEO Glen Messina has officially taken over as president and CEO of Ocwen.
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