National Mortgage News (Servicing) RSS

• 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.

• Select Portfolio Servicing settles with California AG

  The company will pay $4.6 million in the settlement, which resolves allegations that it violated foreclosure protection rules in place during the pandemic.

• UWM gets one more shot at Two Harbors, but as a cash deal only

  Two Harbors opens a negotiating window for UWM this week for a revised offer, but the bid has to be all cash, the REIT will not entertain a stock alternative.

• UWM offers Two Harbors tweaks amid falling stock

  Given the recent decline in UWM's stock price, it is likely Two Harbor's shareholders will choose cash, meaning the deal is no longer a positive, KBW said.

• A majority of Americans admit to growing financial stress

  More than half of consumers worry about money daily, despite improved budgeting habits and, according to a Ramsey Solutions survey, declining mortgage concerns.