Servicing

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

ARTICLES

  • Fannie Mae begins 8th sale of re-performing loans

    Continues effort to reduce mortgage portfolio size
    Fannie Mae announced Tuesday it began marketing its eighth re-performing loan sale as part of its ongoing effort to reduce its retained mortgage portfolio. This latest sale consists of about 18,400 loans with an unpaid principal balance of about $3.59 billion.
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  • Americans now have more debt than ever before

    Mortgage debt hits highest level in 9 years
    Thanks to increases in mortgage debt, auto loan debt, and credit card debt, Americans now have more debt than they ever have before. In fact, mortgage debt now rests at $9 trillion. It’s the first time that mortgage debt has reached the $9 trillion threshold since the second quarter of 2009.
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  • Executive Conversation: Patrick Burns on reinventing the title company

    Spruce's proprietary software platform leverages intelligent automation
    Executive Conversations is a HousingWire web series that profiles powerful people in the financial industry, highlighting the operations and the people that make this sector tick. In the latest installment, we sit down with Patrick Burns, CEO of Spruce, to talk about how they’ve reinvented what it means to be a title company.
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  • Federal Reserve fines Citigroup $8.6 million for mortgage document issues

    Employees allegedly signed documents without knowing what was in them
    A major U.S. bank is being fined over sloppy mortgage documentation practices and no, it’s not Wells Fargo. The Federal Reserve announced Friday that it fined CitiGroup $8.6 million over the “deficient execution and notarization of certain mortgage-related affidavits” by its subsidiary CitiFinancial.
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  • Canary in the coal mine? Impac mortgage originations plummet in second quarter

    Originations fall 42% from last year thanks to rising rates
    Mortgage interest rates may have fallen ever so slightly in the last week, but on the whole, they’re on the way up and have been for quite some time. And the rising interest rate environment is hitting one lender quite hard. Impac Mortgage, which also operates CashCall Mortgage, revealed late Wednesday that its mortgage originations plummeted in the second quarter.
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  • Citizens Bank completes acquisition of Franklin American Mortgage

    Deal originally valued at $511 million
    Citizens Bank’s acquisition of Franklin American Mortgage is now complete. Citizens said that the deal will triple the size of its off-balance sheet mortgage servicing portfolio and more than double its mortgage origination platform. When it was announced, the deal was originally valued at $511 million.
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  • LRES announces new SVP of corporate administration

    Jill Haro will oversee the vendor management department
    LRES Corp., a national residential and commercial mortgage services company, recently announced it promoted Jill Haro to the position of senior vice president of corporate administration.Haro has more than 15 years of experience in the real estate mortgage services industry and was recognized as a vital leader in the effort to grow the company’s business and market share.
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