Thursday, November 14, 2024

Mortgage Servicing

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...

Nexus Nova Earns Fannie Mae Master Servicing Approval

MSR investing platform Nexus Nova LLC, a subsidiary of Minneapolis-based private investment firm Rice Park Capital Management LP, has received Fannie Mae master servicing...

Mortgage Servicers Saw Increase in Document-Related Challenges in 2022

Several document-related issues that have plagued mortgage servicers for years increased during 2022, a recent report from QC and audit firm MetaSource shows. Missing bankruptcy...

Mortgage Delinquencies Hover at Record Lows as Homeowners Stay and Pay

The U.S. mortgage delinquency rate increased to 3.21% as of the end of July - a hike of 2.89% compared with June but down...

CoreLogic: Mortgage Delinquencies, Foreclosure Rates at Historic Lows

For the month of June, 2.6% of all mortgages in the U.S. were in some stage of delinquency (30 days or more past due,...