Mortgage Servicing

MountainView Advising On Sale Of $2.8 Billion MSR Portfolio

Orb Staff
Orb Staff on Feb 12, 2016

MountainView Servicing Group is advising on the sale of a Fannie Mae, Freddie Mac and Ginnie Mae bulk mortgage servicing rights (MSR) portfolio with a total unpaid principal balance of about $2.8 billion. The low-delinquency portfolio comprises 99% fixed-rate and [Read More]

Potestivo & Associates Hires Kristy Steffani As An Associate Attorney

Orb Staff
Orb Staff on Feb 11, 2016

Kristy Steffani has joined law firm Potestivo & Associates PC as an associate attorney working in the firm’s Rochester, N.Y., office. Previously, Steffani worked for two years representing creditors in Chapter 7 and Chapter 13 bankruptcy proceedings and Chapter 7 [Read More]

Black Knight: Completed Foreclosures Fell 17% In 2015

Orb Staff
Orb Staff on Feb 09, 2016

In yet another sign that the U.S. housing market is now almost fully healed from the effects of the Great Recession, foreclosure starts were down 12% in 2015 compared with 2014, and completed foreclosures were down 17% for the year, [Read More]

CoreLogic: Completed Foreclosures Continued To Fall In December

Orb Staff
Orb Staff on Feb 09, 2016

There were about 32,000 completed foreclosures nationwide in December – a decrease of 5.6% compared with 34,000 in November and a decrease of 23.8% compared with 41,000 in December 2014, according to CoreLogic. It was a decrease of 72.8% from [Read More]

Equifax: Subprime Origination Volume Increased Steadily Through Q3 2015

Orb Staff
Orb Staff on Feb 08, 2016

First mortgage originations for subprime borrowers increased steadily from January 2015 to October 2015, according to the latest Equifax National Consumer Credit Trends Report. During that same period, more than 312,000 new mortgages were originated, totaling $50.7 billion. This represents [Read More]

Default Servicing Technologies Rebrands As Exceleras

Orb Staff
Orb Staff on Feb 08, 2016

Now that delinquencies and foreclosures have fallen to pre-crisis lows, many of the mortgage servicers that were focused solely on distressed loans are now repositioning themselves to focus on the broader market, which mostly comprises performing loans. Some default servicing [Read More]

Firstsource Enters U.S. Mortgage Market With Acquisition Of ISGN’s BPO Business

Orb Staff
Orb Staff on Feb 08, 2016

Firstsource Solutions Ltd., a global provider of customized business process management services, has acquired the business process outsourcing (BPO) business of ISGN, a provider of technology solutions and services to the mortgage industry. The acquisition marks Firstsource’s strategic entry into [Read More]

Three Industry Veterans Join Altisource In Sales, Business Development Roles

Orb Staff
Orb Staff on Feb 02, 2016

Altisource Portfolio Solutions recently hired three industry professionals to help the company expand its mortgage and real estate services initiatives. Specifically, Eric M. Lapin has joined the company as vice president of financial analytics sales and account management. A 20-year [Read More]

RealtyTrac: Number Of Underwater Properties Keeps Sinking

Orb Staff
Orb Staff on Feb 02, 2016

About 6.4 million U.S. properties, or about 11.5% of all properties with a mortgage, were seriously underwater as of the end of December 2015 – down from 6.9 million properties, or 12.7% of all properties with a mortgage, as of [Read More]

HOPE NOW: Foreclosure Starts, Foreclosure Sales Near Pre-Crisis Levels

Orb Staff
Orb Staff on Feb 02, 2016

Mortgage servicers completed about 26,000 loan modifications in November – a decrease of 16% compared with about 30,000 in October and a decrease of 21% compared with about 33,000 in November 2014, according to estimates released by HOPE NOW, a [Read More]

Fiserv Adds Document-To-Document Data Comparison Capability To Comparalytics

Orb Staff
Orb Staff on Jan 29, 2016

Fiserv has introduced a new capability for its Comparalytics module, which is part of its LoanComplete suite of product solutions. The solution now allows users to make document-to-document data comparisons in addition to document-to-system data comparisons, the company says in [Read More]

Veros: U.S. Home Prices To Rise About 4.4% In 2016

Orb Staff
Orb Staff on Jan 26, 2016

U.S. home prices are forecast to rise about 4.4% between Dec. 1, 2015, and Dec. 1, 2016, according to the VeroFORECAST report from Veros Real Estate Solutions. Roughly 94% of markets are forecast to see home price appreciation during that [Read More]

Black Knight Announces Two Key Contract Wins

Orb Staff
Orb Staff on Jan 26, 2016

Seeking to move its loans from a subservicing provider to in-house servicing, myCUmortgage, a credit union servicing organization wholly owned by Wright-Patt Credit Union, recently signed a seven-year contract for Black Knight Financial Services’ LoanSphere mortgage servicing platform (MSP). The [Read More]

Black Knight: Home Prices Inched Up Slightly In November

Orb Staff
Orb Staff on Jan 25, 2016

U.S. home prices increased 0.1% in November compared with October and were 5.5% higher compared with November 2014, according to Black Knight Financial Services’ home price index report. The average price of an existing single-family home in November was $253,000, [Read More]

Freddie Mac Announces First NPL Transaction For 2016

Orb Staff
Orb Staff on Jan 25, 2016

Freddie Mac has announced its first sale of nonperforming loans (NPLs) for the year – a portfolio worth about $1.6 billion that was to be sold in seven separate pools. The seasoned, nonperforming residential whole loans were, as of press [Read More]