Servicers’ use of property-management contractors has helped save costs and increase efficiencies but also opened servicers to liability, according to an analysis of litigation involving contractors. Christopher Odinet, an assistant professor of law at the Southern University Law Center, noted that servicers’ reliance on property-management firms increased in recent years due to long timelines for delinquencies and foreclosures. Servicers hire the firms to inspect ...

With the CFPB’s legal action against PHH Corp. pending before the U.S. Court of Appeals for the District of Columbia, a number of experts are revisiting the bureau’s enforcement actions related to marketing services agreements for clues as to how best to proceed going forward. What some of them are finding should give the industry pause. During a webinar this week, Jonathan Foxx, president and managing director at Lenders Compliance Group, a consulting firm ...

Some realtors who have closed sales subject to TRID said the process went smoothly while others reported extended potential closing timelines...

Given the president’s intention to defend the Dodd-Frank Act for the remainder of his term, an industry-wide QM safe harbor for portfolio mortgages is “a heavy lift,” said former FHA chief Dave Stevens.

Quite a few executives believe the central bank should move forward with a “one and done” strategy and be done with it...

The Consumer Financial Protection Bureau’s new integrated disclosure rule didn’t cause a sig-nificant spike in delayed home sales in October, according to the latest Campbell/Inside MortgageFinance HousingPulse Tracking Survey. The Truth in Lending Act/Real Estate Settlement Procedures Act Integrated Disclosure rule took effect near the beginning of October. Many industry participants predicted that the new rule would disrupt mortgage closings ...

A sense of urgency is starting to grip mortgage industry lobbyists and other officials as they try to push forward a wish list of legislative initiatives in the waning days of the first session of the 114th Congress. One fear is that if provisions they advocate aren’t enacted by year-end, presidential election year dynamics will keep anything substantive from being achieved in 2016. Ron Haynie, head of mortgage finance policy for the Independent Community Bankers of America ...

The OCC’s language was not as strong as earlier reassurances from the CFPB that it would not be taking a “gotcha” or punitive approach when it commences with TRID examinations…

A few months back, rumors began circulating that ACMI was contemplating taking bids on its servicing business.

Mortgage executives have much to worry about these days: TRID, declining loan volumes and marketing services agreements, a new survey found.