Servicing

The Federal Housing Finance Agency (FHFA) recently announced in a news release that Fannie Mae and Freddie Mac will issue new operational and financial eligibility requirements for all current and potential single-family mortgage sellers and servicers.

Moody’s Investors Service released a report called, “New TILA-RESPA Rule Will Heighten Possibility of Losses in US RMBS for Rule Violations” revealing that initial challenges for lenders to implement and comply with the new TILA-RESPA Integrated Disclosure (TRID) rule, along with the potential high costs of lenders who do not comply, raise the risk of losses for residential mortgage-backed security (RMBS) trusts.

An initial public offering (IPO) of 18 million shares of Class A common stock from Black Knight Financial Services, a Jacksonville, Florida-based technology, data and analytics solutions provider for the mortgage industry, debuted Wednesday morning at the New York Stock Exchange.

A federal judge dismissed claims in lawsuits against U.S. Bancorp and Bank of America accusing the two banks of failing in their duties as trustees for residential mortgage-backed securities that were allegedly found to have defects after they were sold, causing billions of dollars in losses to investors.

United Guaranty Corporation has promoted Mimi Eaton to be the VP of the strategic accounts team, according to a recent press release. The strategic accounts team serves a large volume of customers by providing them with customer service in the mortgage insurance industry, United Guaranty says. Team members work with leadership of lender customers to create and enhance solutions for borrowers

W.J. Bradley Mortgage Capital (W.J. Bradley), a privately held mortgage banking firm, recently announced in a press release the promotion of John Sadler to be the company’s chief information officer (CIO).

Credit Plus announced today that it has hired Darleen Aragon, an experienced industry professional as the new regional account executive. Aragon will be offering lenders throughout the U.S. the full range of Credit Plus’ third-party verification tools in her new role.

A press release from the Office of the Comptroller of the Currency (OCC) revealed its final rule integrating policies and procedures for corporate activities and transactions of national banks and federal savings associations. The OCC also is adopting amendments to update its rules for agency organization and function.

Years of hardships and constant changes in the mortgage service industry have encouraged RMBS 3.0 investors to voice their requests for servicer improvements, according to Fitch Ratings.

VRM Mortgage Services (VRM) was recently named to DiversityBusiness’ 15th annual “Top Businesses in America” list and received multiple awards as an African American, diversity-owned and privately held business. According to a recent DiversityBusiness press release this is the second year in a row VRM has received such honors.