Servicing

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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CFPB offers templates for banks, servicers to seek 'no-action' letters

05/22/20

The templates are meant to make it easier to obtain agency approval for small-dollar loan products and to accommodate mortgage servicers that want to provide online loss mitigation options.

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Fed warns corporate debt risk could soar the longer pandemic lasts

05/15/20

The central bank's Financial Stability Report said companies may face difficulties repaying debt given lower earnings, “which could trigger a sizable increase in firm defaults."

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Servicers get flak, Bisignano’s Fiserv play, lenders on PPP hook: Top stories of the week

05/15/20

Complaints to the CFPB hit an all-time high, with mortgage servicers getting much of the fire; Frank Bisignano details his priorities as Fiserv’s new CEO; lenders worry they could be stuck with billions in Paycheck Protection Program loans; and more from this week’s most-read stories.

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Cheat sheet: 7 measures in House coronavirus bill that matter to banks

05/15/20

Democrats’ latest proposal to back debt collectors, enable loans for nonprofits and provide other relief could help steer negotiations with the Senate on more stimulus.

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