Tag Archives: Mortgage Servicers

Mortgage professionals involved with the servicing of Federal Housing Administration (FHA) mortgage loans said the biggest challenge they face with those loans is "fulfillment of FHA property preservation and conveyance requirements," according to the February 2015 Mortgage Industry Outlook Report released Monday by The Collingwood Group and The Five Star Institute. Thirty-nine percent of survey respondents who service FHA loans for their respective companies said that fulfilling fulfilling property preservation requirements was their toughest challenge.

The Federal Housing Finance Agency (FHFA) announced on Friday proposed new minimum financial requirements for mortgage sellers and servicers to do business with Fannie Mae and Freddie Mac. The proposed requirements include minimums for net worth, capital ratio, and liquidity criteria that must be met by servicers and sellers to do business with the GSEs.

A group of mortgage bond investors has sent Ocwen Financial Corp. a notice of non-performance in what could be the precursor toward a future lawsuit.

Luxembourg-based mortgage servicer Altisource Portfolio Solutions is cutting more than 800 jobs both overseas and at home in the wake of what was a bumpy year for the company. The move was announced in a conference call with investors on Friday that saw Altisource management working to reassure shareholders who have seen their stock drop more than 80 percent in the last year.

Ocwen's year-long difficulties with New York's Department of Financial Services (DFS) has ended with a $150 million settlement and the departure of its executive chairman, the company announced Monday.

Two executives from Michigan-based default servicing solutions provider DLS Servicing Consultants appeared on the online radio program Capital Markets Today, hosted by Louis Amaya, on December 10 to discuss the state of affairs of Federal Housing Agency (FHA) loss mitigation in the mortgage service industry.

A California judge dismissed a $16.2 million verdict a jury awarded to a California homeowner in July after the homeowner sued mortgage servicer PHH Mortgage to stop foreclosure proceedings on his home.

Examiners from the Consumer Financial Protection Bureau (CFPB) found that some mortgage servicers violated federal laws while supervising for compliance, CFPB announced recently.

CoreLogic has released its fourth out of a series of four white papers entitled Foundation for a Sound Housing Market addressing the high-level aspects of the challenges today's mortgage servicing sector is facing.

MERSCORP Holdings gained yet another legal victory earlier this week, this time in Delaware. In a suit brought about by a disgruntled mortgagor over whether or not MERS had the authority to assign a mortgage, a Delaware court ruled in MERS' favor.