According to the Fitch Ratings, loan portfolio delinquencies modestly improved for the fifth consecutive quarter. Click through to read the latest data and info on the impact of borrower assistance programs in Q1 2023.
Read More »Nationstar Elects Bray Chairman of the Board
Nationstar Mortgage LLC, one of the largest mortgage servicers in the country, confirmed that President and CEO Jay Bray has been unanimously elected Chairman of the Board for the company.
Read More »Watchdog Joins Calls for More Oversight of Non-Bank Servicers
Why does a federal watchdog believe that non-bank servicers, who now service a majority of HAMP loans, need more oversight from federal regulators?
Read More »Rate Decline Zaps Walter Investment’s Profits
A rough 2015 for non-bank mortgage servicers has spilled over into 2016.
Read More »Ocwen Stung by First Quarter Loss
The first quarter of 2016 has not been kind to the profits of banks. If Ocwen's Q1 earnings report is any indication, it was not such a great quarter for non-bank servicers, either.
Read More »The Rocky Road for Non-Bank Servicers
Out of the three largest non-bank mortgage servicers rated by Moody's, Nationstar Mortgage did something in 2015 that the other two, Ocwen Financial and Walter Investment Management, were not able to do. What did Nationstar do?
Read More »Losses on Bank-Serviced Subprime Loans Higher than Those Serviced by Non-Banks
Loss severities on loans serviced by banks were reported to be more than 10 percent higher than loss severities on non-bank serviced loans in those three states, which accounted for 42 percent of all subprime loans in foreclosure in private-label residential mortgage-backed securities.
Read More »Regulatory Changes, Reputational Risk, Economics Are Factors in Shift to Non-Bank Servicing
Reputational risk "remains high with regard to any and all foreclosures," Schwartz said. The crisis gave regulators the ammunition they needed to create loan servicing-specific legislation and policies, which resulted in the straining of the execution of collection and default services for many servicers, whereas those practices had worked well for them prior to the crisis.
Read More »Ocwen Views Recent Settlement as Vindication from Investor’s Allegations of Default
New York-based private investment firm BlueMountain Capital, a purported holder of notes issued by HLSS Servicer Advance Receivables Trust (HSART) wrote a letter last month accusing Ocwen of breach of contract and default on certain notes serviced by HLSS. Ocwen subsequently issued a statement vowing to "vigorously defend itself" against BlueMountain's accusations.
Read More »Altisource Adds Chief Revenue Officer
Altisource Portfolio Solution's executive team saw a new addition this week, with industry veteran John Vella stepping into the newly created role of chief revenue officer.
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