Servicing

Looser capital rules could stabilize mortgage servicing, banks say

03/28/18

Banks would welcome a proposal to loosen Basel III capital restrictions because it would make holding mortgage servicing rights easier and stem the recent exodus of depositories from the servicing business, executives said.

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Wells' OCC tipoff, crime-fighting AI and HSBC's mortgage play: Top stories of the week

03/16/18

Wells Fargo gets tipped off by OCC on investigation; HSBC is wading back into U.S. mortgage waters; a bank uses artificial intelligence to combat money laundering; and more.

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BankFirst in Miss. buys mortgage services company

03/15/18

BankFirst Financial Services in Columbus, Miss., has acquired HomeFirst, a mortgage services firm.

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Why HSBC is getting back into mortgages

03/12/18

Despite past missteps in the U.S. mortgage business, the bank is giving it another go, bringing servicing in-house and catering to millennials and international clients here, says HSBC’s Raman Muralidharan.

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CFPB finalizes technical correction to mortgage servicing rule

03/08/18

The Consumer Financial Protection Bureau finalized a rule on Thursday that gives mortgage servicers more latitude in sending periodic statements to borrowers in bankruptcy.

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Lenders to Treasury: Allow alternative to IRS income verification

02/02/18

Problems with the IRS-managed Income Verification Express System, or IVES, have stoked concerns about delayed mortgage closings when volume picks up this spring.

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Mulvaney could use Dodd-Frank to gut CFPB mortgage rules

01/29/18

The acting head of the Consumer Financial Protection Bureau can utilize "look-backs" of mortgage servicing and underwriting rules to push for significant changes.

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Trump administration must back CFPB action against PHH, top Democrat says

01/04/18

Sen. Sherrod Brown called on the Trump administration to support the Consumer Financial Protection Bureau's enforcement action against PHH Corp., which agreed to a $45 million settlement this week related to foreclosure abuses.

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Drop in mortgage delinquencies shows no sign of bottoming out soon

12/13/17

The long-running slide in mortgage payments 60 or more days past due will continue next year, and perhaps even longer as borrowers benefit from favorable economic conditions.

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Senators ready mortgage servicing fix as tax reform nears finish line

12/01/17

A provision in the original Senate tax reform bill would have required companies acquiring mortgage servicing rights to pay taxes upfront for their anticipated servicing income.

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