The FHA has announced new streamlined procedures to help delinquent homeowners avoid foreclosure and stay in their homes. The agency is revising loss-mitigation procedures servicers use when evaluating and choosing the best home-retention options for delinquent borrowers by reducing waiting time for results. The new streamlined procedures are designed to enhance servicers’ ability to evaluate foreclosure-avoidance alternatives, especially for the FHA-Home Affordable Modification Program (FHA-HAMP). Specifically, FHA will require servicers to convert successful three-month trial modifications into permanent modifications within 60 days instead of the average four to six months. Borrowers who have three missed mortgage payments would be able to opt for a partial claim to bring their arrearages current versus the previous four-month minimum. In addition, the FHA will eliminate the ...

Marianne Lake, Chase’s CFO, said jumbos are the bank’s “first priority” among mortgage originations.

The wholesale-broker market held its ground, maintaining a 10.0 percent share of new originations, Inside Mortgage Finance found.

One real estate agent did not mince words: "TRID is a nuisance and should be done away with immediately if not sooner. Shut the Consumer Financial Protection Bureau.”

PHH says loss of the HSBC subservicing contract on the 139,000 loans will reduce pre-tax earnings by $10 million.

California, Alaska, and South Dakota are the only states required to disclose death on property information in written disclosures…

FHFA estimates there are roughly 300,000 homeowners potentially eligible to refinance through HARP.

Rushmore Loan Management Services, Irvine, CA – a subservicing specialist – plans to enter the origination market early next month, a rarity for firms whose forte is processing loans for others. Company CEO Terry Smith told Inside Mortgage Finance that the nonbank’s direct-to-consumer arm is scheduled to begin funding loans on Sept. 1. “Our focus will be on originating loans – and servicing those loans,” Smith said. He also noted...

The nation’s three largest residential servicers – Wells Fargo, Chase and Bank of America – all showed sequential increases in late payments...

Nine nonbanks reported a combined net loss of $339.5 million on mortgage-banking activity for 2Q16, but that was actually an improvement...