National Mortgage News (Servicing) RSS

• Judge guts industry challenge to zombie seconds law

  A trade group says it has few options to continue fighting a California statute increasing protections for borrowers and upping burdens for lienholders.

• How LoanCare is preparing for the next default cycle

  This industry executive finds subservicing mortgages impacted by rule changes and relatively higher delinquency rates helps test operations and keep them sharp.

• TWO, UWM issue dueling shareholder letters over CEO meeting

  Bill Greenberg and Mat Ishbia held a video chat on June 11. The companies disputed the outcome, but in the end, UWM did not make a new proposal for Two Harbors.

• Freddie Mac adds optional amendment for mod agreements

  The government-sponsored enterprise has provided language that servicers may utilize in situations involving temporary interest-rate buydowns.

• Ex-FHA commissioner: Fund strong enough for rate cut

  A further reduction in single-family premiums is "definitely something to look at," said Frank Cassidy, who slashed some for multifamily while at HUD.

• South leads nation in foreclosure surge

  LegalShield's April foreclosure index rose 46.4% year over year to 52.4 in the South, while the West's index remains nearly 30% below prepandemic levels.

• FTC awards refunds to Home Matters USA mortgage scam victims

  Regulators will award a total of $3 million to over 1,800 households after a judge penalized Home Matters USA over its mortgage relief fraud scheme.

• Servicers split on whether affordability is the top concern

  The number identifying it as such is significant, but not universal, as servicers also face product-specific challenges and determine whether and how to use AI.

• Better closed first Fannie-supported loan backed by Bitcoin

  Better and Coinbase plan to make the product available to qualified borrowers nationwide by this summer. Interested customers can currently apply to a waitlist.