The lender will retain mortgage servicing rights on its originations in an effort to increase borrower retention.

Foreclosure processing, completions and starts are nearing pre-pandemic levels.

Lenders are examining opportunities to retain more servicing this year as originations are expected to stay steady.

Fannie Mae issued a report on quality control issues for loans reviewed in 2023, noting instances where lenders lost rep-and-warrant relief.

A New Jersey jury this week agreed with LoanCare’s counterclaim that Freedom Mortgage fraudulently transferred funds when terminating a subservicing agreement.

In a reissued bulletin, the mortgage giant said it will allow some duty-to-serve cash-out refinances to receive 0% credit fee caps because of the confusion caused by an earlier notice.

The consent order covers unfair and deceptive acts and practices in mortgage servicing, auto loan servicing and maintenance of deposit accounts.

Sprout Mortgage, which closed its doors in July, is facing at least four lawsuits from jilted business partners.

The fintech that promised to smooth out borrowers’ home transitions with cash offers and “sell before you buy” financing has shut shop, citing market conditions and difficulty raising capital.

The mortgage giant will assess lender quality control by comparing the defect rates reported by lenders with its own data on the same loans.