Julie McCurley, director of servicing at Mortgage Quality Management & Research, noted that subservicers typically review 10% of their entire portfolio, which consists of loans from multiple clients, providing a low probability for one client’s loans to be reviewed in a subservicer’s audit cycle.

The MBA cautioned that a ruling by the Fourth Circuit against PHH Mortgage departed from standard practices and could have wide-ranging harmful impacts for lenders.

JPMorgan Chase had the largest jumbo servicing portfolio, with $327.9 billion in volume at the end of December.

NYCB takes on the Flagstar name across both brands.

The portfolio is top heavy in California product...

“You’re not doing this program without my permission,” said Rep. Derrick Van Orden, R-WI.

FHA, VA, Ginnie Mae and USDA are working with MISMO on a new servicing dataset.

Among 27 publicly owned banks, 20 saw income fall in the fourth quarter, and five recorded losses for the period.

Congress must examine AI carefully, to determine “whether AI is extending and reinforcing biases, and how it has the potential to correct them,” according to Sen. Tina Smith, D-MN.

Demand for both purchase mortgages and refinances declined as interest rates ticked up.