April wave of missed payments could upend mortgage servicers


With economists fearing high unemployment stemming from the pandemic, the housing finance system is grappling with how it will recoup lost revenue from delinquencies, forbearance plans and other tremors.


Virus scare creates perfect storm for mortgage lenders


Refinancing activity is surging, existing borrowers are inquiring about loan modifications, loan closings are being delayed by more complex credit checks — and banks are short on people to handle it all.


Coronavirus testing loan servicers’ mettle


The pandemic has upended staffing plans, sparked concerns about servicers’ capacity to handle the expected crush of missed payments, and even raised questions about their ability to stay afloat.


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


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.


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


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.


Regulators issue warning on growth of nonbank mortgage sector


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.


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


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.


Pennsylvania regulators hit SoFi with enforcement action


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.


GAO calls for more scrutiny of reverse mortgage servicing


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.


10 years after resurrection, BankUnited eyes Atlanta, servicing exit


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