Subprime Servicing

Browse articles from all of our Newsletters related to Subprime Servicing.

September 23, 2016 - Inside Nonconforming Markets

Subprime Volume Indicators and Performance

A page of subprime and jumbo data.


September 23, 2016 - Inside Nonconforming Markets

Ocwen Dominates Initial Streamline HAMP Mods

Ocwen Financial accounted for slightly more than half of the modifications completed under the new Streamline Home Affordable Modification Program offering, according to the company. Streamline HAMP mods are only available for non-agency mortgages. The program is aimed at borrowers who meet general HAMP eligibility criteria but haven’t completed a loan mod application by the time their loan is 90 days delinquent. It’s streamlined in that no income documentation is ...


September 9, 2016 - Inside Nonconforming Markets

Subprime Volume Indicators and Performance

A page of subprime and jumbo data.


September 9, 2016 - Inside Nonconforming Markets

Ocwen Fails More Metrics Under Settlement

Ocwen Financial failed two metrics under the national mortgage settlement involving force-placed insurance, according to a report this week by the settlement’s monitor. The failures related to activity in the fourth quarter of 2015. The servicer had a 24.2 percent error rate on the timeliness of force-placed insurance notices, well above the 5.0 percent error rate allowed under the settlement. Ocwen said most of the errors were attributable to the implementation of a new ...


August 26, 2016 - Inside Nonconforming Markets

Subprime Volume Indicators and Performance

A page of subprime and jumbo data.


August 26, 2016 - Inside Nonconforming Markets

News Briefs

Ocwen Financial agreed to a consent order with the Washington State Department of Financial Institutions this week, which included a $900,000 fine. The consent order related to Ocwen’s use of offshore unlicensed affiliate companies to service mortgages on properties in Washington state. Going forward, Ocwen agreed to service Washington-based mortgages only through licensed entities and the state will not license foreign entities ... [Includes three briefs]


August 26, 2016 - Inside Nonconforming Markets

Benefits for Non-Agency Servicing with CFPB Rule

A final rule issued by the Consumer Financial Protection Bureau regarding loss mitigation and other servicing practices will be positive for the servicing of non-agency mortgages, according to Moody’s Investors Service. The rating service said the rule will help standardize and improve servicing practices by increasing automation and clarifying ambiguities in the interpretation of regulatory requirements. Most of the provisions in the new rule will take effect in a year ...


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