ACES: Mortgage Loan Defect Rate Jumped 20.5 Percent During Q2 2022
The rate of critical defects in mortgage loans post-closing increased 20.5% during the second quarter of 2022, rising to a rate of 2.47% of...
Finance of America Reverse Renews Relationship With Celink
Celink, a reverse mortgage subservicer, recently executed a multi-year subservicing contract renewal with Finance of America Reverse, a company in the reverse mortgage industry.
Finance...
LoanCare Launches New Division Focused on Distressed Mortgage Loans
Mortgage subservicer LoanCare has launched Velocity Servicing, an independently managed division dedicated to delivering one-stop resolution for credit sensitive mortgage loans.
The new division will...
MCT’s New Co-Issue Marketplace, BAMCO, Adds BSI Financial Services
BSI Financial Services (BSI) has become the latest mortgage investor to join BAMCO, Mortgage Capital Trading’s (MCT) new marketplace for co-issue loan sales.
BAMCO brings...
Impac Making Shift to Broker, Giving Up Seller-Servicer Designation
Impac Mortgage Holdings is repositioning itself as a mortgage brokerage and voluntarily giving up its seller-servicer designation with Fannie Mae and Freddie Mac.
“Non-transitory inflation...
Milliman Releases Latest Mortgage Default Index
Milliman Inc., a global consulting and actuarial firm, has shared the fourth-quarter 2022 results of the Milliman Mortgage Default Index (MMDI), which shows the...
LoanCare Chooses Black Knight Loss Mitigation System
Black Knight Inc. says LoanCare, a national provider of full-service, component and interim mortgage loan subservicing, will implement the Black Knight Loss Mitigation solution...
Foreclosure Activity Down in February but Still Up Year over Year
ATTOM’s latest U.S. Foreclosure Market Report shows there were a total of 30,528 U.S. properties with foreclosure filings in February, down 3 percent from...
Sagent Hires Perry Hilzendeger in Servicing Executive Role
Sagent, a company that provides mortgage servicing software, has appointed former Wells Fargo and Homepoint Financial servicing executive Perry Hilzendeger as executive vice president...
Does California’s First Look Law Apply to Servicers or Investors?
BLOG VIEW: On January 1, 2023, California’s SB 2170 became effective, creating a new “First Look” policy on REO properties.
Encompassed in Civil Code §...
Exceleras Welcomes Rick Sharga to its Advisory Board
Rick Sharga has joined the advisory board at Exceleras, a provider of software solutions that drive the right actions at the right time to...
Cenlar Adds Veteran Mortgage Servicing Manager in Escrow Role
Mortgage subservicer Cenlar FSB has hired Michelle DeHart as vice president of loan operations, escrow. She will lead all escrow functions, including tax, insurance,...
VRM Mortgage Services Promotes Leigh Gibson to VP of Strategic Initiatives
Leigh Gibson has been promoted to vice president of strategic initiatives at REO asset management firm VRM Mortgage Services.
Gibson has been successful in developing...
Distressed Mortgages Remain Small Portion of Servicers’ Portfolios
CoreLogic’s Loan Performance Insights Report for December 2022 shows that 3% of all mortgages in the U.S. were in some stage of delinquency representing...
Rate of Zombie Foreclosures Not Too Scary at the Moment
ATTOM’s first-quarter 2023 Vacant Property and Zombie Foreclosure Report shows that 1.3 million residential properties in the U.S. are currently vacant, including 8,141 zombie...
loanDepot Brings All Mortgage Servicing In-House
loanDepot Inc. says it has moved all mortgages serviced by its third-party subservicer to its in-house platform.
With the transition complete, loanDepot will continue to...
Mortgage Delinquency Rate Edged Up in Q4 2022 But Loan Performance Remained Stellar
The U.S. mortgage delinquency rate increased to 3.96% in the fourth quarter of 2022, according to the Mortgage Bankers Association’s (MBA) National Delinquency Survey.
That’s...
Fannie Mae Recognizes Exceptional Mortgage Servicers
Fannie Mae has announced the 2022 Servicer Total Achievement and Rewards (STAR) Program results, recognizing 22 mortgage servicers for competency, capacity and overall performance.
The...
LoanCare Debuts Technology Tool Focused on MSR Activities
Mortgage subservicer LoanCare has launched a portfolio management solution, LoanCare Analytics, designed to support mortgage servicing rights (MSR) investors with a focus on customer...
New Solution from LERETA, Sperlonga Aids Servicers with HOA Monitoring
LERETA and Sperlonga Data and Analytics Systems have debuted a solution for homeowner association (HOA) reporting and payments, whereby mortgage servicers can automatically monitor...