There are plenty of mortgage servicers that are building their portfolios in a market that is merely treading water, but many of the biggest players in the business continued to ease back from the business during the second quarter of 2015. As a group, the top five servicers still accounted for an impressive 40.1 percent of the mortgage servicing market, but their combined portfolio – $3.943 trillion at the end of June – shrank by 3.3 percent during the second quarter. In March, the top five accounted for 41.4 percent of the market, and at the midway point in 2014 they held a combined 44.1 percent share. Four of the top five contracted...[Includes two data tables]
W.J. Bradley Mortgage recently settled a civil suit filed against one of its competitors, RPM Mortgage, regarding the alleged theft of customer loan files by a top-ranked and recruited loan officer. In a statement, RPM said: “We are pleased that the litigation with W.J. Bradley has been settled. As always, the confidentiality of client information is of paramount importance to RPM.” W.J. Bradley, the original plaintiff in the matter, would not comment...
The lender could not provide any volume figures, but Logemann said one in 10 inquiries she receives “has some element” of a consumer who has gone through a foreclosure or short sale
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