Feds Crack Down on Unlicensed Debt Collection December 30, 2020 Yemeng Yang RAB agreed to pay $204,000 in civil money penalty to settle the claims.Read More
Nonbank CDFI Lender Raises $31.5M Through Private Placement December 30, 2020 Paul Muolo To date, the Irvine, CA-based nonbank has raised $81.5 million through the sale of preferred equity...Read More
IG Warns FHA Could be Receiving Inaccurate Data from Servicers December 29, 2020 Maria Volkova HUD's IG is in the process of reviewing forbearance data provided by servicers and the relief options they offer borrowers.Read More
UI Analysts Suggest Federal Oversight of Nonbank Servicers December 29, 2020 Brandon Ivey The analysts suggested that the Federal Housing Finance Agency or the Federal Reserve should handle regulation of nonbank servicers. Read More
Jumbo Servicing Declines in Third Quarter December 29, 2020 Brandon Ivey Prepayments outpaced new production, prompting a decline in jumbo servicing volume. Read More
Federal Agencies Extend Enrollment Period for Forbearance through February December 28, 2020 Brandon Ivey Based on language in the CARES Act, it was possible that the enrollment period for forbearance on federally-backed mortgages would end on Dec. 31.Read More
Short Takes: Slight Uptick in Forbearance / Outlook for Interest Rates / Planet Home Lending’s Servicers Ratings Affirmed December 28, 2020 Brandon Ivey The number of loans in forbearance increased during mid-December and could decline in early January, according to Black Knight.Read More
Ocwen Finds a Partner, Hopes to be a Player in MSR Acquisitions December 23, 2020 Paul Muolo The agreement comes at a curious time: Servicing prices have suffered during the pandemic but are beginning to improve. In other words, bargains may be hard to find. Read More
Coming Soon: New Mortgage Rules from the CFPB December 23, 2020 Yemeng Yang The agency said it will propose revisions to loss mitigation-related provisions under Regulation X... Read More
Subservicers Continue Their Strong Growth in 3Q December 22, 2020 Paul Muolo A boon to subservicers: small- to medium-sized lenders hanging onto their MSRs...Read More