The Mortgage Industry Standards Maintenance Organization said it is developing standards to facilitate more efficient servicing transfers. The organization is asking industry participants to join its working group.
Given the recent surge in new COVID-19 infections, now may be a good time to reassess location-based licensing requirements as well as state oversight, the trade group believes.
Bill Foley, the man who made Fidelity Financial into a title insurance giant, has his eyes on mortgage analytics vendor CoreLogic. But will antitrust concerns prevail?
Most of the industry's dramatic $245 billion decline in servicing for others was the result of a change in reporting practices at Flagstar Bank. However, a number of large banks continued to back away from the business of servicing for others. (Includes data chart.)
With more than 8% of mortgages now in forbearance, industry experts are exploring ways to give an added impetus to digitizing the loan-modification process.
Roughly a third of the bulk MSR transfers recorded in the first quarter of 2020 came as NewRez boarded servicing rights it acquired from Ditech Financial several months ago. (Includes three data tables.)
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