Molly Boesel, a senior economist at CoreLogic, noted that in judicial states, servicers must provide evidence of delinquency to the courts in order to move a borrower into foreclosure.
While S&P will rate new non-agency MBS without formal guidance from the CFPB, the rating service noted that the market’s handling of TRID issues is fluid...
State regulators have been particularly concerned about growth in recent years by nonbank servicers such as Ocwen Financial, the largest subprime servicer. Ocwen, of course, is now shrinking.