Mortgage Servicing

HOPE NOW: Serious Delinquencies Fell To New Low In February

Orb Staff
Orb Staff on May 04, 2016

Mortgage servicers granted a total of about 27,000 loan modifications in February, basically unchanged compared with January and down slightly compared with about 29,000 in December, according to figures recently released by HOPE NOW. Of those, about 19,000 were through [Read More]

PNC Bank To Implement Black Knight LoanSphere Empower LOS

Orb Staff
Orb Staff on Apr 27, 2016

Black Knight Financial Services Inc., a provider of integrated technology, data and analytics to the mortgage and real estate industries, says PNC Bank, a member of The PNC Financial Services Group Inc., will utilize the following solutions from Black Knight: [Read More]

Mortgage Cadence Introduces New Business Intelligence Dashboards

Orb Staff
Orb Staff on Apr 27, 2016

Mortgage Cadence, an Accenture company, has released two new business intelligence dashboards for Enterprise Lending Center (ELC) – the company’s cloud-based loan origination platform – that are designed to help mortgage lenders enhance operational efficiency, increase throughput and maximize profitability. [Read More]

Ditech Converts 1.4 Million Loans To Black Knight’s LoanSphere MSP

Orb Staff
Orb Staff on Apr 25, 2016

Ditech Financial LLC has converted approximately 1.4 million loans from its servicing and subservicing portfolios into Black Knight‘s loan servicing system, LoanSphere MSP. According to Black Knight, MSP offers a single, comprehensive platform to support mortgage loans and home equity products that [Read More]

Jon Gerretsen Named President Of Altisource Origination Services

Orb Staff
Orb Staff on Apr 25, 2016

Jon W. Gerretsen has been named president of Altisource Origination Services for Altisource Portfolio Solutions SA, a provider of real estate, mortgage and technology services. With more than 25 years of industry experience, Gerretsen specializes in providing strategic execution of [Read More]

Black Knight: Mortgage Delinquency Rate Continued To Fall In March

Orb Staff
Orb Staff on Apr 25, 2016

The mortgage delinquency rate (30 days or more past due but not in foreclosure) fell to 4.08% of all loans in March – a decrease of 8.37% compared with February and a decrease of 12.42% compared with March 2015, according [Read More]

Bayview Loan Servicing Signs Renewal For Black Knight’s LoanSphere MSP

Orb Staff
Orb Staff on Apr 21, 2016

Bayview Loan Servicing LLC, a residential and small-balance commercial mortgage loan servicer headquartered in Coral Gables, Fla., has signed a five-year contract renewal for LoanSphere MSP, Black Knight Financial Services’ loan servicing system. According to Black Knight, MSP is a [Read More]

Treasury Allocates Final $1 Billion For Hardest-Hit States

Orb Staff
Orb Staff on Apr 21, 2016

The U.S. Department of the Treasury has allocated a final $1 billion in funds for the Hardest Hit Fund (HHF), which was established in 2010 to aid the states that were hardest hit by the housing crisis in rebuilding their [Read More]

VanDyk Mortgage Partners With Bestborn For Loan Vision Application

Orb Staff
Orb Staff on Apr 19, 2016

Grand Rapids, Mich.-based VanDyk Mortgage has selected the Loan Vision software application from Bestborn Business Solutions, a provider of accounting and financial management solutions to the mortgage industry, as its new financial management solution. “Making the transition to Loan Vision [Read More]

S&P/Experian: Default Rate On First Mortgages Keeps Falling

Orb Staff
Orb Staff on Apr 19, 2016

The national default rate on first mortgages as of March stood at about 0.77%, down seven basis points from 0.84% in February and down from 0.92% in March 2015, according to the S&P/Experian Consumer Credit Default Indices. Meanwhile, the default rate for auto [Read More]

Data Trace Brings 12 New Title Plants To Texas Market

Orb Staff
Orb Staff on Apr 19, 2016

Data Trace Information Services LLC, a provider of data solutions to the title and settlement services industry, has introduced 12 new geographically indexed, P-12 compliant thick title plants in Texas. According to Data Trace, the new title plants, which are [Read More]

RealtyTrac: Foreclosure Starts, Scheduled Auctions Jumped In March

Orb Staff
Orb Staff on Apr 18, 2016

Foreclosure starts increased 21% in March compared with February but decreased 11% compared with March 2015, according to estimates recently released by RealtyTrac. Foreclosure starts increased in 20 states, year over year, including Connecticut (up 169%), Arizona (up 125%), Delaware [Read More]

CoreLogic To Integrate GSE Condominium Project Questionnaires Into CondoSafe

Orb Staff
Orb Staff on Apr 18, 2016

CoreLogic has announced that its condominium project review solution, CondoSafe, will support the new Fannie Mae and Freddie Mac condominium project questionnaires that the government-sponsored enterprises (GSEs) announced on March 29. According to the company, CondoSafe helps lenders and mortgage [Read More]

Ellie Mae Releases New Version Of Encompass Solution

Orb Staff
Orb Staff on Apr 18, 2016

Ellie Mae has launched a new version of Encompass, its all-in-one mortgage management solution. The improved platform, Encompass 16.1, includes new trade management reporting, a new eSign platform, expanded construction lending support, and further enhancements to integrations with Fannie Mae, [Read More]

Fannie Mae’s NPL Sell-Off Continues

Orb Staff
Orb Staff on Apr 13, 2016

Fannie Mae is selling off another batch of nonperforming loans (NPLs). This latest sale features four larger pools of approximately 8,200 loans totaling $1.527 billion in unpaid principal balance (UPB) and a Community Impact Pool of approximately 80 loans, focused [Read More]

Merrill Lynch Home Loans Pulls Origination, Subservicing Business From PHH

Orb Staff
Orb Staff on Apr 12, 2016

PHH Corp. on Monday announced that one of its major clients, Merrill Lynch Home Loans, a division of Bank of America, had decided to move the origination of new applications for certain mortgage loan products to its internal operations effective [Read More]

ABA: Delinquencies On Home Equity Loans, Lines Of Credit Keep Falling

Orb Staff
Orb Staff on Apr 12, 2016

Delinquencies on home equity loans fell 23 basis points to reach 2.68% of all accounts in the fourth quarter of 2015, while delinquencies for home equity lines of credit fell 13 basis points to 1.18% of all accounts, according to [Read More]

CoreLogic: Completed Foreclosures Decreased 13.9% In February

Orb Staff
Orb Staff on Apr 12, 2016

There were about 34,000 completed foreclosures nationwide in February – a decrease of 13.9% compared with about 39,000 in January and a decrease of 23.9% compared with February 2015, according to CoreLogic’s National Foreclosure Report. What’s more, completed foreclosures were [Read More]

Two New Account Executives For LenderLive’s Correspondent Lending Division

Orb Staff
Orb Staff on Apr 05, 2016

Lynn Collins and Tisha Hamari have joined mortgage services provider LenderLive as regional account executives for the company’s correspondent lending division. Collins has more than 20 years of experience in the mortgage industry. Most recently, she was an account manager [Read More]

Black Knight: Most Underwater Properties Are In The Lower Price Tier

Orb Staff
Orb Staff on Apr 04, 2016

Although the number of homeowners who are underwater on their mortgages continues to decrease nationwide, a higher percentage of those who remain underwater are in lower-priced homes, a new report from Black Knight Financial Services shows. According to the mortgage [Read More]