FCC Limits ‘Robocalls’ on Mortgage Collections, More… August 31, 2016 Thomas Ressler The new rules apply to each caller, rather than each debt…Read More
Steady as She Goes in Subservicing Market. Cenlar Continues to Dominate August 31, 2016 Paul Muolo Certain subservicers, including Nationstar Mortgage, continue to solicit others to shift their servicing chores over to them…Read More
Subservicer Statebridge Nearly Doubles Contracts to $2.60 Billion August 30, 2016 Brandon Ivey FrontRange Capital first invested in Statebridge back in 2013. The money allowed the subservicer to buy out its then-owner, Integrated Asset Services.Read More
Subservicer Rushmore Launches Consumer-Direct Channel; Former Nationstar Exec Leads the Effort August 30, 2016 Paul Muolo While Rushmore’s headquarters is in Southern California, the production operation is based in Dallas, where Steve Mix worked for Nationstar.Read More
Prestwick Selling $502 Million of Fannie Mae/ Freddie Mac Servicing Rights August 30, 2016 Paul Muolo All of the loans were funded through the retail channel by the seller company.Read More
MBA: Servicing Losses Worsen by 36 Percent, But Origination Profits Rise 104 Percent August 30, 2016 Paul Muolo The results should surprise few: big gains on production, losses on servicing…Read More
A $2.5 Billion a Year Lender Files IPO Documents. It’s a Bank Though… August 29, 2016 Paul Muolo In 2014, FB Financial began retaining more of its servicing rights and now has a $4.0 billion portfolio.Read More
Short Takes: Just Because You’re Kicked Off the NYSE, That Doesn’t Mean… / Buying an MB for Diversification Purposes / A 10 Percent Broker Market Share and Holding / Clayton and Angel Oak / Nationstar is Hiring! August 29, 2016 Paul Muolo The nation's fourth largest servicer, Nationstar Mortgage, will hold a job fair on Sept. 12 at the Maude Cobb Convention Center in Longview, TX. Read More
Ocwen Agrees to Pay WA Almost $1 Million to Settle Charges that it Used Unlicensed Offshore Affiliates to Perform Servicing Functions August 26, 2016 Paul Muolo Ocwen services roughly 60,000 loans in Washington state.Read More
What We’re Hearing: Caliber and PHH, an Update / Not a Good Thing: Having Too Much of Your Net Worth Tied up in MSRs / Banks and Brokers: No Longer in Love / Will a Retail Subprime Lender Emerge and Go National? / IU Chief Loses GSE Case August 26, 2016 Paul Muolo Angel Oak, by the way, is licensed to lend in 30 states. It hopes to be in 40 within the next year, said company official John Hsu…Read More
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