Items Tagged with 'Default'


  • Bloomberg: Mortgage servicing needs fixing, and here's what should be done

    It's the plumbing of the mortgage industry, and it needs a serious overhaul
    Mortgage servicers are "unsung professionals" who play a crucial role in the U.S. economy, Bloomberg says, but they're not doing their jobs well. But to be fair, it's not all their fault. What's the problem? A recent article in Bloomberg breaks it down, claiming that the mortgage servicing sector needs a serious overhaul. Here's a review of the problems, and some ideas as to what can be done about it.
    Read More
  • From HW Magazine

    Arrested development: The long-term consequences of student debt on the housing economy

    High default rates could spell disaster for future homeownership
    As Millennials grapple with paying off student loans, their opportunity to buy a home gets pushed further and further into the future. That delay has consequences far beyond individual students — the growing student debt crisis impacts every part of the economy. 
    Read More
  • Mortgage default rate falls to near record low in May

    Hits second lowest since July 2004
    Borrowers are going into default on their first mortgages less often than at nearly any point in the last 13 years, a new report from the S&P Dow Jones Indices and Experian showed. The default rate in May was just one basis point above May 2016’s level of 0.63%, which was the lowest that figure had been since July 2004.
    Read More
  • Wingspan closing Florida office, laying off 150 employees

    Melbourne location once employed 400 people
    When Wingspan Portfolio Advisors purchased JPMorgan Chase’s mortgage servicing operations center in Melbourne, Florida, in February 2013, the company gave 400 Chase employees who staffed the Melbourne office the opportunity to continue their employment. Now the company plans to close the Melbourne office and lay off the remaining 150 employees.
    Read More
  • Wingspan lays off 100 more employees in Monroe

    Are all 400 former JPMorgan Chase employees now gone?
    In October, Wingspan Portfolio Advisors laid off hundreds of employees in its Monroe, Louisiana location, leaving only an estimated 100 employees at the former JPMorgan Chase call center. Now those employees will soon be gone, too.
    Read More
  • KBRA unveils new mortgage default and loss model

    Reduces default expectations on purchase loans
    Citing ongoing analysis of mortgage performance and evolving origination trends, Kroll Bond Rating Agency released an update to its residential mortgage default and loss model, including revising the timeline and expenses associated with liquidated loans and adjusting the penalty for high debt-to-income ratio loans.
    Read More
  • David Tiberio joins Avenue 365 as VP of default services

    Tasked with establishing and building new relationships
    In the new role, Tiberio will be tasked with helping Avenue 365 enter into new national and mid-tier relationships with a primary focus on the single-family rental investors, servicers, banks and lender servicers, the company said.
    Read More