National Mortgage News (Servicing) RSS

• States, mortgage regulators call for end to OCC escrow moves

  Preemption would hurt affordability for many, the Conference of State Banking Supervisors and the American Association of Residential Mortgage Regulators said.

• Supreme Court rejects Emigrant's reverse redlining appeal

  The high court, without comment, refused Emigrant Mortgage's appeal of a verdict holding it liable for no income, no asset verification loans to minorities.

• AARP sues Celink, Carrington, Finance of America over HECMs

  The reverse mortgage companies squeezed thousands of dollars out of aging homeowners through various illegal fees, according to a new class action suit.

• PennyMac Q4 earnings miss as margins, servicing slip

  Competition that impacted margins and prepayments in excess of expectations were challenges during the period, but executives report first quarter improvement.

• Foreclosure auction inventory rises to near 6-year high

  VA- and FHA-backed mortgages helped drive the increase in property volume, but sales did not maintain the same pace, according to Auction.com.

• Newrez beats zombie seconds suit over decades-old HELOC debt

  A Massachusetts borrower sued the servicer last year after she was surprised with a $200,000 mortgage bill, after 16 years of not receiving statements.

• Bayview to pay $26 million to settle data breach claims

  The pending agreement would resolve claims over a 2021 hack which affected 5.8 million customers of Lakeview, Community, and Pingora Loan Servicing.

• Lyons McCloskey sale keeps compliance muscle intact

  Founding partner Bob Lyons will help ensure continuity. Frank Pallotta and Kathleen Koprowski will lead an advisory board for the auditing and consulting firm.

• Onity's earnings estimates improve despite servicing loss

  The estimated range for net income to common shareholders at the company formerly known as Ocwen rose in part due to a deferred tax asset valuation.