Saturday, November 23, 2024

Mortgage Servicing

CoreLogic: Mortgage Delinquency Rate Continued to Edge Down in August

The U.S. mortgage delinquency rate continued to decrease to all-time lows in August. According to CoreLogic’s Loan Performance Insights Report, the overall national mortgage delinquency...

CaseMax Teams With Provana to Automate Bankruptcy E-Filing

CaseMax, which provides case management systems to law firms operating in the financial services industry, has partnered with Provana, which offers a suite of...

Freddie Mac Sells 88 Non-Performing Loans to GITSIT Solutions and VRMTG ACQ

Freddie Mac recently sold 88 non-performing residential first lien loans valued at $19.1 million from its mortgage-related investments portfolio to GITSIT Solutions and VRMTG...

Mortgage Delinquencies Increased in September But Are Below Pre-Pandemic Levels 

The national mortgage delinquency rate increased to 3.29% in September, up 12 basis points (BPS) from August and up 13 BPS from September 2022,...

Homeowner Tenure on the Rise as Many Are Rate-Locked Into Their Homes 

Due to rising mortgage rates, which are keeping many homeowners “rate-locked” in their current homes, homeownership tenure is now close to a high point...

MBA: Share of Mortgages in Forbearance Drops Again to 0.31 Percent

The share of mortgages in forbearance decreased by 2 basis points to 0.31% of servicers’ portfolios as of September 30, according to the Mortgage...

BSI Financial Services Selected as Backup Asset Manager for First Rated Securitization of HEAs

Mortgage servicer BSI Financial Services has been selected by Unlock Technologies as the backup asset manager for the recently closed Unlock HEA Trust 2023-1...

Fannie Mae Selling Pool of Non-Performing Loans with $217.5 Million UPB

Fannie Mae recently announced that it is selling a pool of 1,555 non-performing loans totaling $217.5 million in unpaid principal balance (UPB). This includes a...

Matt Stadler: With Default Servicing, Timing is Critical

PERSON OF THE WEEK: Default servicing is an important yet very distinct segment within the mortgage servicing industry. On the surface, its purpose seems...

WaterfallCalc Launches Cloud-Based Version of Loss Mitigation Tool for Mortgage Servicers 

WaterfallCalc, offering loss mitigation technology for small- and mid-sized mortgage servicers, has launched WaterfallCalc+, an affordable cloud-based version of its popular loss mitigation analysis...

Randy Kozlowski: Mortgage Servicers Can Expect More Problems with Escrow in the Near Future

PERSON OF THE WEEK: Having access to current and accurate property tax data is critical for any mortgage servicer. The monitoring of property tax...

Rithm Capital to Acquire Specialized Loan Servicing

Rithm Capital Corp., an asset manager focused on the real estate and financial services industries, is acquiring certain affiliated companies of Computershare Limited, including...

CoreLogic: Solid Mortgage Performance Continues in July

CoreLogic has released its monthly Loan Performance Insights Report for July 2023, revealing delinquency and foreclosure activity (first liens only against a property). For July,...

Dovenmuehle Mortgage Taps Robert Howerton as CIO

Robert Howerton has joined Dovenmuehle Mortgage, a mortgage subservicing company, as chief information officer. Howerton has more than 20 years of IT experience, including an...

Mutual of Omaha Mortgage Renews Subservicing Deal with Celink

Celink, a national reverse mortgage subservicer with headquarters in Texas and Michigan, recently executed a multi-year contract renewal with Mutual of Omaha Mortgage, the...

Freddie Mac Auctions Off $586 Million in NPLS

Freddie Mac has sold via auction 3,564 non-performing residential first lien loans (NPLs) from its mortgage-related investments portfolio. Specialized Loan Servicing LLC, Select Portfolio...

MBA: Share of Mortgage Loans in Forbearance Drops in August

The Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey reveals that the total number of loans now in forbearance decreased by six basis points...

Susan Graham: Lessons Learned From 40 Years in Mortgage Servicing Software

PERSON OF THE WEEK: Financial Industry Computer Systems (FICS) is one of the oldest mortgage software companies in the industry. Since 1983, the firm...

Commercial Mortgage Delinquency Rates Rise in Second Quarter

The latest Commercial/Multifamily Delinquency Report from the Mortgage Bankers Association (MBA) shows that commercial and multifamily mortgage delinquencies increased in the second quarter of...

Mortgage Default Risk Down, Originations at Pre-Pandemic Levels

Milliman Inc., a global consulting and actuarial firm, released the second-quarter 2023 results of its Milliman Mortgage Default Index (MMDI), which shows Milliman's latest...