Home / Tag Archives: mortgage (page 86)

Tag Archives: mortgage

Sentencing Date Set for Former JPMorgan Loan Officer

Former senior loan officer at JPMorgan Chase & Co. admitted to a $33 million mortgage fraud scheme recently. A Florida federal judge accepted the plea and set the sentencing date for August 17. In exchange for shorter sentencing and other charges to be dropped, the $33 million will be paid in restitution.

Read More »

International Document Services Receives Certification from GSEs

After undergoing an extensive testing process, a mortgage document preparation vendor announced its Uniform Closing Dataset XML file has been certified by the GSEs. This new way of submitting documents will be required by Fannie and Freddie starting in the fall for all lenders selling to them. The company trusts this will bring consistency, transparency and clarity to the mortgage industry.

Read More »

Servicers Suffer from Disparate Tech

Out-of-sync technologies are holding businesses back, according to a recent report. Additionally, make it hard to serve the millennial homebuyer, who expects a more seamless, digitized solution when purchasing a home. This is largely because tech solutions in today’s post-crisis, highly-regulated industry are product-specific, which creates a “complex ecosystem made up of siloed disparate systems.”

Read More »

Mortgage Revenue Took a Hit in Q1

Nationstar Holdings reported declining income in Q1. The market overall saw declines in mortgage revenue with PNC Financial Services Group, Wells Fargo, and JPMorgan Chase all reporting reductions in mortgage revenue in the quarter, but what drove Nationstar in Q1 was its strong servicing segment.

Read More »

Foreclosures Down, Except in 3 States

A new report shows foreclosure filings are down 23 percent since last year, hitting their lowest point since November 2005. Foreclosure starts and completions are also down over the year, though repeat foreclosures have seen an increase. The only places to see jumps in foreclosure activity were New Jersey, Connecticut, Massachusetts, and D.C.

Read More »

Two Sides to Tax Reform

Reflecting promises made on the campaign trail, President Trump’s tax reform proposal appears to be an effort to reduce tax burdens for Americans as well as simplify the nation’s tax structure. Based on the outline presented this week, we now have a clearer picture of the administration’s primary goals for tax reform, but those goals will need to be formalized in detailed legislation.

Read More »

GSEs Could be Granted FOIA Exemptions

Fannie Mae and Freddie Mac will now enjoy the nine standard exemptions of the Freedom of Information Act, thanks to a recent amendment to HR 1694. According to the amendment's sponsor, it will help ensure privacy and transparency at the entities. Passed in April, HR 1694 requires the GSEs to adhere to the FOIA for the first time since entering conservatorship.

Read More »

Mortgage Default Risk is on the Rise

On Thursday, VantageScore Solutions, LLC and TransUnion released the VantageScore Default Risk Index (DRI) for Q4 2016. According to the DRI, when it comes to default risk, mortgages pose a lower threat than auto loans, student loans, and bankcards with the DRI for these four categories came in at 85.4 (mortgage) , 89.3 (auto), 90.0 (student loans), and 96.8 (bankcards) respectively. Despite the lower default risk compared to other debt categories, mortgage risk is up quarter-over-quarter.

Read More »

Underwater Mortgages on Decline

The number of seriously underwater properties is on the decline, according to a recent home equity report. Approximately 5.5 million U.S. homes were seriously underwater for the quarter—a drop from last year’s 6.7 million. As a percentage of all mortgages, seriously underwater loans also dropped, accounting for 9.7 percent of all loans versus the 12 percent of Q1 2016.

Read More »

GET YOUR DAILY DOSE OF DS NEWS

Featuring daily updates on foreclosure, REO, and the secondary market, DS News has the timely and relevant content you need to stay at the top of your game. Get each day’s most important default servicing news and market information delivered directly to your inbox, complimentary, when you subscribe.