Black Knight Financial Services, which currently collects all servicing data for VA, will no longer do the job after March 2019, according to the Department of Veterans Affairs. BKFS will stop providing the service when VA transitions to a new enhanced VALERI system. VA servicers currently use the VA Loan Electronic Reporting Interface system to upload servicing information. VALERI is undergoing a multi-phase restructuring for conversion to a fully automated system spanning loan application, origination and servicing. The enhanced servicing component of VALERI will be ready by late spring next year. As part of the transition, VA will ensure that all servicers are plugged into the new VALERI system before it becomes fully operational. VA’s transition plan covers all methods and procedures for reporting information to VALERI. These include use of a licensed servicing system or a proprietary in-house servicing system that automatically reports data to VALERI, or logging into the VALERI web portal to manually upload and enter data.

The nation’s 12th largest servicer of residential loans said other options include a “business combination” or maintaining its status as a standalone entity.

Nationstar might be a suitor...

A few years back, Nader went to bat for Fannie Mae/Freddie Mac shareholders suing the federal government over the GSE net worth profit sweep...

FHA may soon have a new condo lending rule, but one lobbyist called it "four years too late..."

Incenter Mortgage Advisors, Denver, is getting ready to launch a flow MSR marketplace of its own…

Leon Cooperman has been increasing his stake in Ocwen Financial and now owns about 11 percent of the firm…

The seller of the bulk package is a depository that lends heavily in the South…

In early June, Finance of America filed a layoff notice on 43 workers in Roseville, CA.

The new ruling raises the likelihood that the Supreme Court might take up the issue in the future.