However, the new Cordray letter provides no details on where it will land on errors.

Molly Boesel, a senior economist at CoreLogic, noted that in judicial states, servicers must provide evidence of delinquency to the courts in order to move a borrower into foreclosure.

Comments are due on Friday from working group members that have been participating in the effort.

The publicly traded servicer/originator took in $330.7 million in revenue, a 35.2 percent decline from 1Q15. Its origination revenue was a meager $23.2 million…

Lone Star was the first firm to issue a non-agency MBS backed predominantly by non-QMs...

Will President Trump (if elected) tax mortgage servicers that use offshore workers?

While S&P will rate new non-agency MBS without formal guidance from the CFPB, the rating service noted that the market’s handling of TRID issues is fluid...

Blackstone continues to expand its presence in the mortgage industry on several fronts. In late January, it bought Interactive Mortgage Advisors, a Denver-based servicing advisory firm.

State regulators have been particularly concerned about growth in recent years by nonbank servicers such as Ocwen Financial, the largest subprime servicer. Ocwen, of course, is now shrinking.

On the subject of delayed closings, one agent had this to say: “All of my closings are taking two to four weeks longer to close, and there has been a lot of confusion…”