Servicing

Servicing
Performing and non-performing loan servicing, subservicing and the vendors that support loan servicers. Property preservation and REO activity as well.

ARTICLES

  • Here's the tech you need for a proactive customer retention strategy

    Quantarium's portfolio services leverage true AI to your advantage
    With Quantarium, servicers can leverage automated vigilance to see market activity on any loan in their portfolio, giving them the ability to contact borrowers with new offers. They can also gain insight into a borrower’s current status — such as whether they have paid off a loan and still live in the house, sold the property or refinanced with another lender. Additionally, Quantarium’s best-in-class portfolio services can identify borrowers who are likely to list their property, or refinance.
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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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  • HomeStreet Bank finds a buyer for its retail loan centers: Homebridge

    Reaches non-binding agreement to sell to Homebridge Financial Services
    In a deal that will likely make changing the outside signage a little easier, HomeStreet Bank inked a deal to sell part of its retail mortgage business to Homebridge Financial Services. The deal would likely include HomeStreet's 72 home loan centers in five states as well as a number of mortgage professionals.
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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: Here's how to prepare for servicing exams right now

    New risks around LEP and ADA requirements
    As the CFPB has taken a step back from examination and enforcement, other federal agencies and states have stepped in. Instead of one agency’s rules and regulations to deal with, mortgage servicers now have to cater to a multitude of regulators looking at a variety of new areas. It all equals expanded risk.
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