National Mortgage News (Servicing) RSS

• Share of equity rich, mortgaged properties nears 5-year low

  Attom's data adds to signs that the market's loan performance buffer is solid but thinning in some areas, and shows the trend affects both ends of the market.

• California penalizes Academy Mortgage over 2023 data breach

  Regulators specifically called out Academy's directors for their failure to properly oversee operations and conduct audits in a consent order.

• UWM sued for allegedly misleading investors on hedge strategy

  A shareholder suit says executives are responsible for stock losses in failing to disclose behind-the-scenes moves related to the ill-fated Two Harbors deal.

• Late-stage delinquency trend suggests higher consumer stress

  While delinquencies eased overall quarter to quarter, they trended upward on a yearly basis across all loan types, the Mortgage Bankers Association said.

• Early adopters of new VA partial claim process share tips

  Nonbank mortgage firm Pennymac said having an in-house system gave it a leg up on implementation, while a vendor also reported progress in its systems testing.

• Newrez OKs $15.5 million settlement over insurance claims

  The servicer will pay $4.5 million in remediation to affected homeowners for incorrectly imposing force-placed insurance on thousands of borrowers.

• Two Harbors fires back at UWM, calling lawsuit frivolous

  In the latest round of posturing between the one-time merger partners, Two Harbors said the filing was part of a "familiar refrain" by UWM to blame others.

• States sue OCC over mortgage escrow interest pre-emption

  A 10-state coalition is asking a federal court to put a halt to the OCC's rules which pre-empt laws on banks paying interest on mortgage escrow deposits.

• Insurers ease underwriting as carriers compete for buyers again

  A record percentage of homeowners renewing their insurance policy saw their fee decrease, up from 7.4% last year, according to Matic's mid-year trends report.