Servicing

Nationstar Mortgage Holdings reported a net loss of $48 million, or $0.53 per share, for the first quarter of 2015 compared with a net income of $19 million ($0.21 per share) for the previous quarter, according to an announcement from the Lewisville, Texas-based residential mortgage servicer on Tuesday morning.

Arch Mortgage Insurance (Arch MI), a provider of private mortgage insurance and a wholly owned subsidiary of Arch Capital Group Ltd, will host a complimentary webinar discussing the recent release of their Spring 2015 Edition of its Housing and Mortgage Market Review. The webinar will discuss the latest findings of the report, including the latest trends that influence the housing market today and a discussion of how states in the oil market could be affected by the recent drop in oil prices. Arch MI aims to help industry professionals understand what is happening in the nation’s housing market and why with their exclusive Housing Update Webinar.

The Mortgage Collaborative, an independent lending cooperative serving small and mid-sized mortgage lenders and community-based lending institutions, has deepened its senior executive team with the addition of two new hires, the Collaborative’s Chairman, John Robbins, CMB announced.

Accurate Group, a leading provider of real estate appraisal, title, and compliance services based in Northeast Ohio, announced that it has made two promising employee acquisitions.

Philadelphia-based LL Funds, which manages more than $1.5 billion market value non-Agency residential mortgage-backed securities, said in the white paper released Friday that the institutional investors' claims of non-performance on the part of Ocwen, made through law firm Gibbs and Bruns, are flawed.

Despite the recent turmoil, Ocwen’s president and CEO, Ron Faris, said he expects his company to have a profitable 2015. "I am encouraged by the progress Ocwen has made so far,” Faris said. “We currently expect to … meet all of our ongoing financial and servicing obligations.”

Ocwen also reported that an additional 284,089 borrowers had either started a trial modification or were offered or approved for a trial modification by the end of Q4. These were Ocwen's self-reported numbers and they have not been credited by the monitor as of yet.

According to the authors, the implications of modification-induced strategic defaults are different between current and delinquent borrowers.” For loans current before a modification, defaults involve borrowers intentionally stopping payments in order to become eligible for mortgage modification.

Customers can search a database of more than 1,300 down payment and closing cost assistance programs when they visit the Bank of America Down Payment Resource Center. Customers can also learn how to use down payment and closing cost programs in combination with first mortgage loans to make homebuying more affordable when they visit the center. They can also get information to help them prepare for purchasing a home and speak with Bank of America mortgage specialist to explore other possible options.

According to MountainView's announcement, features of the bulk servicing rights portfolio include 100 percent fixed-rate and first lien product, a weighted average original FICO score of 763, a weighted average original LTV ratio of 75 percent, a weighted average interest rate of 3.82 percent, and low delinquencies. The portfolio contains no loans that are more than 90 days late; only 0.41 percent of the loans in the portfolio are between 30 and 59 days delinquent, and only 0.5 percent of the loans are between 60 and 89 days delinquent, according to MountainView.