Servicing

Calls mount for U.S. to halt foreclosures, evictions amid health crisis

03/15/20

A national moratorium would be costly to lenders and servicers, but proponents say it's needed to help cushion the economic blow of the pandemic.

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FHA wants banks back. Updating servicing could be the answer.

01/13/20

Despite changes by the Federal Housing Administration, bankers remain reluctant to join the program for fear of legal liability. But that could change if it revamps servicing processes, experts say.

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Regulators issue warning on growth of nonbank mortgage sector

12/04/19

A report from the Financial Stability Oversight Council cited a bigger share of originations and servicing by nonbanks as a potential vulnerability in the financial system.

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$11 trillion U.S. mortgage market has a shadowy new player

11/05/19

Financial regulators have been put on notice about the risk of an economically damaging cash crunch in the home mortgage market. Behind the concern: the rapid growth of shadow banks in the origination and servicing of home loans.

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Pennsylvania regulators hit SoFi with enforcement action

11/04/19

The San Francisco fintech company has agreed to pay a $110,000 fine for failing to comply with a 2017 state law that requires mortgage servicers to be licensed.

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GAO calls for more scrutiny of reverse mortgage servicing

09/26/19

The Federal Housing Administration should monitor reverse mortgage servicers more closely and track related data that would shed light on a rise in defaults, according to a Government Accountability Office report.

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10 years after resurrection, BankUnited eyes Atlanta, servicing exit

05/17/19

The moves are part of a plan CEO Rajinder Singh discussed in a conversation with American Banker.

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Supreme Court ruling in foreclosure case is a win for lenders

03/20/19

In a unanimous ruling, the court placed new limits on the ability of consumers to sue law firms that handle foreclosures on behalf of mortgage servicers.

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Will single bond set stage for GSE overhaul?; Female-led firms borrowing more

03/08/19

SIFMA approval could bring new competitors and housing finance reform; number of applications rose but amount borrowed still lags other firms.

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5 ways mortgages will shape the BB&T and SunTrust merger

02/08/19

SunTrust’s merger with BB&T is the largest bank deal since the financial crisis, and mortgages will play a critical role in the execution of this transaction.

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