National Mortgage News (Servicing) RSS

• Pennymac announces a change in the C-suite

  Chief capital markets officer William Chang is stepping down "to explore new opportunities within the mortgage banking sector."

• Zombie mortgage settlement erases millions in borrower debt

  Franklin Credit Management Corp. agreed to pay $300,000 to Massachusetts and not sell its portfolio of state loans to a different servicer.

• Cenlar faces setback as court grants partial ruling on RESPA violation

  The order by the judge, who had previously dismissed part of the original loan modification-related claims, shortens the legal process for allegations that remain.

• SitusAMC sells stake in repurchase risk management division

  The deal reunites the executive that heads up Securent Risk Retention Group with former colleagues and allows SitusAMC to support growth for other business lines.

• What Rocket Mortgage's Annaly pact means for servicing

  The arrangement complements the publicly traded nonbank lender's acceleration of other activity in the servicing space and builds on other business with the REIT.

• Fannie Mae, Freddie Mac, HUD talk Hurricane Helene relief details

  President Biden's initial disaster declaration made mortgage and other federal assistance available to residents across three Southeastern states.

• Onity sells stake in JV as it ramps up capital restructuring

  Onity, the company formerly known as Ocwen, is adjusting its joint venture servicing investment vehicle and has taken other steps with the goal of deleveraging.

• Helene dumps rain on millions of U.S. homes that lack flood insurance

  The disaster underscores Americans' dangerously low levels of flood insurance coverage, especially away from coastal areas.

• Newrez's acquired servicer sued for "pay to pay" fees

  Specialized Loan Servicing allegedly charged borrowers $7.50 for processing mortgage payments made by phone. Most servicers, including Newrez, have axed this fee.