Servicing

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

ARTICLES

  • Sponsored By
    Citadel Servicing Corp.

    The right time for non-prime

    Citadel Servicing provides mortgage brokers with a larger pool of borrowers
    As the number of prime borrowers dries up, investors are showing an increased appetite for non-prime loans, which are markedly different from the subprime lending that was a hallmark of the financial crisis.
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  • HomeStreet to sell a piece of its mortgage servicing portfolio

    Bank will sell $5B of its single-family MSRs to Matrix Financial
    Seattle bank HomeStreet announced this week it will sell a piece of its mortgage servicing rights to Matrix Financial Services. The deal, which includes an unpaid principal balance of $4.9 billion in single-family MSRs, amounts to approximately 20% of the bank’s single-family servicing portfolio.
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  • New Residential completes $190M acquisition of Lewis Ranieri’s Shellpoint Partners

    Shellpoint is the parent company of New Penn Financial and others
    New Residential Investment Corp.’s acquisition of Shellpoint Partners, a mortgage vehicle that is owned in part by Lewis Ranieri’s Ranieri Partners, is now complete. The companies announced this week that the $190 million deal, which was first announced in November 2017, is now finalized.
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  • Ocwen dumps Fitch, names interim CEO

    Ending contract with ratings agency, also names replacement for departing CEO
    Over the years, Fitch Ratings has frequently commented about Ocwen Financial, issuing reports and ratings actions about the nonbank’s business dealings, trials and tribulations. Well, that’s about to come to an end. But that's not the only big news that Ocwen made on Monday.
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  • Climate change threatens more than 300,000 coastal homes

    Impact could be staggering over next 30 years
    The sea level is rising, and now experts are predicting the impact on coastal homes in the U.S. could be staggering within the next 30 years. The new research shows about 311,000 homes could be flooded every two weeks within the next 30 years due to swelling oceans.
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  • Waters introduces bill to increase FHFA foreclosure oversight

    Seeks to increase oversight of Fannie, Freddie loans
    Ranking Member of the House Committee on Financial Services Maxine Waters, D-Calif., introduced a new bill that would increase oversight for mortgage servicers who work with Fannie Mae and Freddie Mac. Waters explained borrowers can’t choose their servicer so it’s especially important that Congress provide strong protections to prevent servicers from taking advantage of borrowers and to protect borrowers from foreclosure.
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  • New Freddie Mac job program helps homeowners in poverty areas

    Announces partnership with NextJob
    Freddie Mac announced Thursday that it entered into a new partnership to help current and aspiring homeowners find jobs in persistent poverty areas. Freddie Mac explained its goal that the partnership will provide meaningful opportunities to create and sustain homeownership for families across rural America.
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