Servicing

BB&T, SunTrust to merge; ECB plans new bank stress test

02/07/19

The deal would be the biggest bank merger in more than a decade; banks would need to show how many days they could last with just cash on hand.

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CFPB mortgage rule didn’t cost industry much, agency says

01/10/19

As required by the Dodd-Frank Act, the bureau released long-awaited "look-back" reviews to assess the impact of mortgage underwriting and servicing rules on the industry and the credit markets.

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FHA urges servicers to go easy on federal workers during shutdown

01/09/19

The agency wants mortgage servicers to extend special forbearance plans to those affected by the partial government shutdown and evaluate borrowers for loss-mitigation options.

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Servicers treating government shutdown like a natural disaster

01/04/19

As the government shutdown enters its third week, mortgage servicers are activating the response plans they normally use during hurricanes and wildfires to assist federal workers who may have trouble paying their mortgages.

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‘I lost my home because of a computer glitch’: Wells’ victims seek answers

11/13/18

The bank recently notified an upstate New York man that he was wrongly denied a mortgage modification, and enclosed a $25,000 check. But details of what went wrong have been hard to come by.

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FHA eases document requirements for reverse mortgage insurance claims

10/22/18

The Federal Housing Administration is making it easier for reverse mortgage servicers to submit insurance claims by expanding the types of supporting documentation it will accept on defaulted loans.

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Reducing gap between FHA, conventional market is priority: Montgomery

10/15/18

The Federal Housing Administration is looking to streamline its single-family loan servicing requirements to align them with industry standards and upgrade outdated technology.

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Chase Bank to cut 400 mortgage jobs

10/05/18

JPMorgan Chase is eliminating 400 positions in its mortgage banking unit, the latest lender to trim staff as a result of lower-than-expected demand in 2018.

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SEC fines former Ocwen exec for insider trading before CFPB, PHH news

09/28/18

A former Ocwen Financial executive is settling Securities and Exchange Commission charges that he engaged in insider trading related to his company's dealings with Altisource Portfolio Solutions following a CFPB enforcement action and its upcoming merger with PHH Corp.

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Why it will be hard to find new CEOs for Fannie and Freddie

09/24/18

The CEOs of Fannie Mae and Freddie Mac are stepping down because the job they were hired to do — return the GSEs to profitability — is done. But attracting top-flight candidates to lead the mortgage giants into a new phase may not be easy.

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