Senator Elizabeth Warren (D-Massachusetts) and Congressman Elijah Cummings (D-Maryland) sent letters on Tuesday to 16 financial institutions requesting detailed information regarding data breaches and seeking information about briefings from corporate IT officials, according to an announcement on Warren's web site.
Read More »Freddie Mac Announces New Foreclosure Prevention Guidelines, Revisions
Government-sponsored enterprise Freddie Mac has announced a set of new foreclosure prevention guidelines and revisions in Guide Bulletins 2014-19 and 2014-20.
Read More »CoreLogic Launches Compliance Solution for Servicers
According to an announcement, CoreLogic created the solution as a faster, cheaper, configurable way for servicers to check a number of factors related to a loan's status and viability, including lien status, current equity position, and the borrower's updated credit profile. The end result is a platform intended to allow firms to easily render modification and forbearance decisions in a compliant way.
Read More »Superior Home Services Names New Assistant VP of Insurance Operations
Arizona-based hazard claim and Federal Housing Administration (FHA) repair management pioneer Superior Home Services has announced that Ruth Delgado has joined the company as assistant VP of insurance operations.
Read More »Report: FHA’s MMI Fund Has Grown By $21 Billion Over Last Two Years
In its annual report to Congress, the U.S. Department of Housing and Urban Development (HUD) announced on Monday that the Federal Housing Administration's Mutual Mortgage Insurance Fund has grown by $21 billion in the last two years and now has an economic value of $4.8 billion with a current capital ratio of 0.41 percent after being in the red two years ago.
Read More »Survey: Most Industry Professionals Expect Business to Change Little in Next Six Months
In a survey conducted as part of The Collingwood Group's Mortgage Industry Outlook Report for October 2014 released on Monday, the majority of mortgage industry professionals who were surveyed said they did not expect business conditions to be drastically different in the next six months.
Read More »East Point Systems Introduces New Business Intelligence Platform
East Point Systems, a Connecticut-based field service software solutions provider for the default mortgage field service industry, has announced the launch of Analytics Dashboard, a business intelligence platform that allows businesses to make quick decisions based on real-time data.
Read More »Fourteen Indicted in New York Over $20 Million Mortgage Loan Fraud
Fourteen defendants have been indicted on charges in connection with a massive mortgage fraud conspiracy that was perpetrated in New York for 10 years, according to an announcement made by Preet Bharara, U.S. Attorney for the Southern District of New York, and George Venizelos, assistant director in charge of the New York Field Office of the FBI, and Carl DuBois, Sheriff of Orange County, New York.
Read More »Lender, Servicer Call Off $39 Billion Mortgage Servicing Rights Deal
Wells Fargo and Ocwen Financial have mutually agreed to cancel the sale of billions of dollars residential mortgage servicing rights after New York's top financial regulator put the deal on hold, according to multiple reports.
Read More »Florida Posts Highest REO Total for October
Maryland may have overtaken Florida for the nation's highest foreclosure rate of any state in October, but Florida still led all states by far in bank repossessions (REOs) for the month, according to RealtyTrac's October 2014 U.S. Foreclosure Market Report released Thursday.
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