Servicing

Flagstar promotes Lee Smith to head its mortgage business

09/10/20

The post was vacant since Kristy Fercho left to run Wells Fargo Home Loans in July.

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‘I’m a budget nerd’: How new FHA chief is confronting pandemic

08/17/20

Dana Wade, a former OMB official, says a strong capital footing will help the Federal Housing Administration weather an uptick in delinquencies and ensure the mortgage market is viable once the economy recovers.

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Wells Fargo buys $14B of delinquent mortgages tied to pandemic

07/13/20

The amount far surpassed that of any other servicer required to purchase Ginnie Mae-backed loans that were 90 days past due.

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Supreme Court ruling eliminates autodialer use for FHA, VA collections

07/06/20

The court struck down a 2015 update to the Telephone Consumer Protection Act, which permitted robocalls to cell phones for government-related debt collection.

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Bank interest in Main Street Lending Program ‘substantial,’ Powell says

06/16/20

The Fed chairman updated senators about the agency's new credit facility for midsize firms struggling in the pandemic. He also left open the possibility of additional stress tests to gauge the industry’s coronavirus response.

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Ex-OCC chief Otting to join board of software company

06/08/20

Former Comptroller of the Currency Joseph Otting landed a post with Black Knight, which provides technology solutions to mortgage and real estate companies.

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States try to help borrowers left out of federal forbearance plans

06/04/20

One criticism of the CARES Act is that it provides relief only to borrowers with government-backed loans. Bills in New York and California would cover the remaining 30% of homeowners.

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How lenders are preparing for a wave of loan modifications

06/02/20

With no way of knowing just how many borrowers will need the mods after the coronavirus forbearance period ends, lenders are deploying artificial intelligence and servicing protocols to tame the ferocious piles of paperwork awaiting them.

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Mortgage niche showed promise for Michigan bank. Then coronavirus hit.

05/27/20

University Bancorp decided to shutter its wholesale mortgage lending business after it struggled to hire and train employees remotely.

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Delinquencies and foreclosures won't be as bad as feared, data suggests

05/26/20

Forecasts about the pandemic's impact on the mortgage market have grown less dire after forbearance requests by homeowners nearly leveled off in the first half of May.

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