Tag Archives: Service Providers

Led by a sharp drop in the South, builder confidence slipped in February to 46--the lowest level since November--the National Association of Home Builders (NAHB) reported Tuesday. Economists had expected the Housing Market Index (HMI), a measure of confidence, would improve to 48 from January's reading of 47. Nationally, two of the three index components--current single-family sales and buyer traffic--declined, while the assessment of sales for the next six months edged up.

While the revised Home Affordable Refinance Program (HARP), commonly referred to as HARP 2.0, has allowed far more homeowners to refinance than the original version, there remains a large group of eligible homeowners who have yet to take advantage of the program.

Two industry service-providers are teaming together to help servicers prepare for CFPB examinations and adjust procedures to comply with new regulations.

Residential Capital, LLC (ResCap) announced it has completed the sale of its servicing platform assets to Ocwen Loan Servicing, LLC.

Walter Investment Management Corp. has signed a definitive agreement to acquire Ally Bank's business lending operations.

Redfin's Real-Time Price Tracker, which tracks prices, sales, and inventory, shows home sales were up in January 12 percent year-over-year.

Fifty-four Senate Democrats and Independents issued a letter to the president last week defending the Consumer Financial Protection Bureau (CFPB) and pledging to support the re-appointment of current director Richard Cordray. In their letter, Cordray's Senate supporters decried the opposition's efforts as an attempt to "weaken the CFPB through structural changes" from "a minority of Senators [who] do not support the existence of the agency." The issue of Cordray's nomination comes at a pivotal time for CFPB.

Chicago's Covenant Bank is the third FDIC-insured institution to close this year, the agency announced. According to a release from FDIC, Liberty Bank and Trust Company in New Orleans has agreed to assume all of the deposits of the failed bank and will purchase essentially all of the assets.

Ally has satisfied its consumer relief obligations required under last year's National Mortgage Settlement (NMS), according to settlement monitor Joseph Smith Jr.

Citing changes in regulatory reform due to Dodd-Frank as the driving factor, Edward Jones Mortgage, based in St. Louis Park, Minnesota, will close its doors permanently in April. The office has been writing residential mortgages since 1998 and ceased writing them in January.