Servicing

The tough first quarter for Ocwen suggests an ongoing trend for non-bank mortgage servicers—even though they have a much larger share of the mortgage market than they did just four years ago, they are having difficulty profiting.

Consumers ran into three major problems with the way their loan is being serviced, according to the CFPB's latest monthly consumer complaint snapshot.

While most of the nation’s largest banks and investment banking firms have struggled to exceed last year's Q1 profits in the first quarter this year, one bank finally managed to pull it off.

Nationstar Mortgage was the only one out of the three largest U.S. non-bank mortgage servicers to turn a profit during 2015, according to Moody’s Investors Service’s Servicer Dashboard.

Borrower claims appear to be fleeing the housing market two years after the Consumer Financial Protection Bureau introduced the Ability to Repay rule for mortgage servicers.

The PNC Financial Services Group's residential mortgage banking division faced losses at the start of the year due to losses related to mortgage servicing rights and lower loan sales.

The theme ringing throughout the Five Star Institute's 7th Annual Legal League 100 Spring Servicer Summit Thursday in Dallas, Texas, was this: The default servicing industry is rapidly changing.

With intense pressure stemming from falling oil prices, historically low interest rates, and volatile financial markets profits at San Francisco-based Wells Fargo did not come in strong for the first quarter of 2016.

Nonbank servicers are now servicing nearly a quarter of all residential mortgage loans in the country. What does the Government Accountability Office recommend should be done to increase government oversight of nonbank servicers?

As overall first-lien mortgage performance improves with more borrowers maintaining their monthly payments, the need for other loss mitigation actions is dissipating.