Ocwen Mediation with CFPB Ends; Servicer Hikes Legal Reserves January 7, 2021 Yemeng Yang and Paul Muolo Even though the mediation effort has ended, Ocwen is still bidding on servicing portfolios... Read More
Impairment Rate on Non-QMs Declines in November January 6, 2021 Brandon Ivey The impairment rate didn't decline across the board. It increased for bank statement loans.Read More
A Tough Year Ahead for Mortgage Compliance? January 6, 2021 Paul Muolo Industry watchers said implementing changes to the qualified-mortgage rule could be one of the biggest sticking points.Read More
Ginnie Forbearance Reading At Highest Level Since November January 5, 2021 Paul Muolo Late last week, Black Knight released its measurement: 2.83 million mortgages in COVID-related relief for the seven-day period ending Dec. 29. The FHA/VA (GNMA) reading increased by 11,000 units.Read More
AmeriHome Moving Forward with IPO... January 5, 2021 Brandon Ivey The nonbank lender/servicer filed its initial IPO documents in early October and was reportedly set to price the offering later that month. Read More
The Ginnie Early Buyout Game Leans Heavily Toward FHA January 4, 2021 Paul Muolo In general, most of the delinquent loan buying has been done by the megabanks and top-ranked direct-FHA funders like Quicken Loans and PennyMac...Read More
Citadel Servicing Rebrands as Acra Lending January 4, 2021 Brandon Ivey Officials at Acra suggest it's largely business as usual for Citadel, beyond the name change. Read More
Feds Crack Down on Unlicensed Debt Collection December 30, 2020 Yemeng Yang RAB agreed to pay $204,000 in civil money penalty to settle the claims.Read More
Nonbank CDFI Lender Raises $31.5M Through Private Placement December 30, 2020 Paul Muolo To date, the Irvine, CA-based nonbank has raised $81.5 million through the sale of preferred equity...Read More
IG Warns FHA Could be Receiving Inaccurate Data from Servicers December 29, 2020 Maria Volkova HUD's IG is in the process of reviewing forbearance data provided by servicers and the relief options they offer borrowers.Read More