Servicing

Attorneys T. Robert Finlay and Jonathan D. Fink explore a recent court ruling where a lender’s settlement agreement with its defaulting borrowers violated California’s usury laws by including a provision for interest at a higher rate than that allowed by state law.

The deal extension expands the usage of Sagent’s LoanServ fintech platform across Digital Federal Credit Union’s mortgage servicing lifecycle.

“February’s early-stage delinquency rate was historically low and primarily driven by a strong job market,” said Molly Boesel, Principal Economist at CoreLogic. “However, the possibility of a recession that would raise the U.S. unemployment rate could slightly erode the current strong mortgage performance situation in the coming months.”

While lenders have been adding eSign capabilities to all stages of the origination process for years, implementing eSign and RON technology into the loss mitigation process would be a completely new experience for many new servicers. 

CoreLogic’s latest analysis of straight-line winds, tornadoes, hail, and severe thunderstorms has found that storms in 2022 accounted for an average annual loss of more than $17 billion, with hail damage accounting for more than $11 billion of those losses.

A new study has found that eviction/foreclosure-related moves rose 56% from 2021 to 2022, with California, Florida, and Massachusetts experiencing the highest increases.

Spurred by rising unemployment, ATTOM has found that U.S. foreclosure filings climbed 22% year-over-year in the first quarter of 2023.

Former U.S. Marine joins mortgage subservicer, responsible for the cybersecurity team and emerging risk to ensure that Cenlar continues to remain compliant.

A new report from CertifID has found that homebuyers’ and sellers’ wire transactions are rapidly being targeted by cybercriminals, with in excess of $106,000 as the average wire loss in consumer recovery cases.

The MBA reports that pandemic-related loss mitigation options have pushed forbearance levels lower, as mortgage performance remains strong with post-forbearance workouts increasing in March.