The company experienced a cyberattack Dec. 20 and took various systems offline to address the issue. System access started to be restored late last week and First American cautioned that sensitive data had been accessed.
State Farm, the nation’s largest writer of home insurance, cited inflation, wildfire risk and a challenging reinsurance market as reasons for its exit from the home insurance business in California.
The slowdown in home lending offers companies an opportunity to bring on new vendors and change technology platforms. But does this apply to the specialized world of warehouse finance?
The move signals an aggressive effort by federal regulators to rein in consolidation in the mortgage tech industry. ICE said it is prepared to fight the FTC over the Black Knight deal.
United Wholesale Mortgage explored the idea of servicing its own mortgages but passed. For now it's sticking with its two subservicing vendors, one of which is Cenlar.
Intercontinental Exchange’s attempt to acquire Black Knight has been attacked by regulators, shareholders and mortgage lender trade groups. In other words, it remains to be seen if the deal will get done.
For the most part, subservicing growth has been slow, thanks to booming MSR sales and some non-traditional servicing owners shifting strategies. Cenlar, though, remains the nation’s number one subservicer. (Includes data chart.)
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