Servicing

First Horizon buys commercial mortgage servicer

10/11/17

The Tennessee bank said it has bought Professional Mortgage in Greenville, S.C., which services about $1.1 billion of commercial mortgage loans for 23 correspondent life company lenders.

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CFPB gives more time to reach troubled borrowers in servicer rule revision

10/04/17

The Consumer Financial Protection Bureau said Wednesday that it would give mortgage servicers more time to notify distressed borrowers who have asked not to be contacted about the collection of their debts.

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Wells Fargo acquires $51 billion in mortgage servicing rights

09/07/17

The portfolio of conforming loans is currently being subserviced by Nationstar Mortgage Holdings on behalf of Seneca Mortgage Investments.

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Finding the right size for servicers

08/02/17

Servicers of all sizes must comply with increasingly detailed rules

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DOJ's False Claims Act focus shifts to reverse mortgage servicers

07/03/17

The Trump administration's Justice Department was expected to be less aggressive in its pursuit of False Claims Act cases against the mortgage industry. Instead, its focus has shifted to Federal Housing Administration-insured reverse mortgages.

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New York Community joins bank exodus from home mortgages

06/27/17

Seeking to stay below $50 billion, the regional is selling its origination and servicing businesses.

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Why regulators waited years before hitting Ocwen again

05/17/17

State regulators felt they were strung along by the mortgage servicing giant Ocwen Financial after years of promises that were never fulfilled, resulting in successive enforcement actions against the company.

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CFPB, 20 states take sweeping actions against Ocwen

04/20/17

Ocwen Financial and its subsidiaries faced a slew of accusations from federal and state regulators on Thursday, which raised questions about whether the firm could survive.

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Dimon calls for overhaul of FHA, mortgage lending rules

04/04/17

Speaking at a town hall event in Washington, D.C., JPMorgan Chase CEO Jamie Dimon said that post-crisis regulations have made mortgages too costly for consumers — and made homeownership unattainable for borrowers with low incomes or blemished credit histories.

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Crisis in student loan servicing is building

03/22/17

While there are inherent differences between student loan and mortgage servicing, recent claims against the largest student loan servicer echo the mortgage debacle.

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