Servicing

The need for servicing compensation reform was a major topic of discussion among several housing experts during an hour and a half-long panel on Emerging Issues in Mortgage Servicing Wednesday at the Urban Institute.

After enduring a rough year so far earnings-wise, Ocwen Financial Corporation received some positive news this week.

Continuing an unfortunate trend for non-bank mortgage servicers in the second quarter of 2016, Walter Investment Management reported a net loss for the three-month period ending June 30, 2016.

All Credit Considered Mortgage, Inc. (ACC Mortgage) has selected LO Connect as its integrated automated underwriting system (AUS), product and pricing engine (PPE), and distribution solution.

Contrary to some reports in the mortgage industry that customer experience investments are unnecessary and unprofitable, a recent study indicates that investing in the customer experience does pay off for mortgage servicers.

Legal expenses stemming from the Fisher cases cut into Ocwen's second quarter earnings.

Post-crisis Wall Street reform actions were aimed at preventing larger banks from engaging in risky financial practices. How have smaller institutions been affected?

According to the OCC, in increase in the number of current and performing mortgages combined with declining foreclosure activity resulted in a healthy servicing market in Q1.

The cases revolve around accusations stemming from 2012 that Ocwen lied to the FHA about its compliance with HAMP rules, as well as FHA insurance programs.

The Bureau reported violations due to deficient technology and process breakdowns as a result of numerous examinations of mortgage servicers since the CFPB’s new servicing rules went into effect in January 2014.