The Consumer Financial Protection Bureau published a proposed rule in the Federal Register on Friday that could scale back some procedures added for mortgaged homeowners with hardships due to COVID-19. The temporary requirements added during the pandemic have largely sunset, and one aspect that has not is on track to be addressed by a planned […]
CFPB proposes end to pandemic servicing requirement Read More »
Rocktop Technologies’ purchase of Incenter Capital Advisors is both complementary to its current capabilities as well as a way for the company to differentiate itself. Terms of the deal, which was completed on May 15, were not disclosed. For now, Incenter Capital Advisors will retain its current branding. “We are very tech heavy, tech enabled,
Rocktop buys Incenter Capital, expecting robust MSR market Read More »
The mortgage industry’s comeback after years of economic challenges sputtered, as diminished loan volume and increased production costs made lending unprofitable at nonbanks in the first quarter. Still, the industry managed to narrow losses compared to three months earlier but production ended up in the red again for a second straight quarter, according to the
Mortgage profits near break-even, but costs still climb Read More »
Selene, a provider of industry leading loan servicing, diligence and title solutions, today announced the appointments of Jocelyn Martin-Leanoas President, Selene Finance and Doug Whittemore as Chief Strategy and Growth Officer for all Selene Holdings’ business lines, effective immediately. In these roles, Martin-Leano will oversee all Selene Finance operations and Whittemore will focus on Selene’s
Selene appoints new President and Chief Strategy Officer to drive next phase of growth Read More »
Sean Grzebin stepped into the role of CEO of Chase Home Lending in November, armed with the advantage of having worked across functions at the bank since 2011. With a career that has taken him from PHH Mortgage in 1997, to Countrywide, to Goldman Sachs and then Chase, Grzebin has seen his share of market
Chase Home Lending CEO on AI, growth, and market volatility Read More »
Fannie Mae has announced plans to discontinue use of a platform used to handle certain distressed mortgage processes and is directing mortgage professionals using it to take certain steps in response. Servicers must leave the HomeSaver Solutions Network, which is utilized for loan workout reporting functions, and transition to a broader platform Fannie provides to
Servicers: Fannie Mae replatforming some workout functions Read More »
The delinquency rate for U.S. residential mortgages rose slightly in the first quarter of 2025. This was partially driven by an uptick in conventional loan delinquencies and rising foreclosure inventory, particularly among loans backed by the U.S. Department of Veterans Affairs (VA). The Mortgage Bankers Association (MBA) reported Tuesday that the seasonally adjusted delinquency rate
Mortgage delinquencies rise slightly in Q1 Read More »
The expiration of the Department of Veterans Affairs loss-mitigation program drove an overall rise in foreclosures to start 2025, with the jump among VA loans the highest in decades, according to the Mortgage Bankers Association. The share of mortgages in foreclosure relative to total volume increased to 0.49% in the first quarter, up 4 basis
VA foreclosures surge to 5-year high Read More »
The Mortgage Bankers Association has responded to the Office of Management and Budget’s request for information on “unnecessary, unlawful, unduly burdensome and unsound rules” with several origination and servicing policy suggestions. There already has been pullback from some of the policies the association is calling for the Office of Management and Budget to rescind, with
Mortgage bankers ask OMB to end or revise several rules Read More »
President Donald Trump’s campaign tax pledges — no taxes on tips and overtime pay, plus new tax breaks for car buyers and seniors — are the centerpiece of a multitrillion dollar package that will serve as Republicans’ signature legislative effort. In a draft version of the tax bill released on Monday, House Republicans highlighted the
GOP tax bill prioritizes Trump campaign vows, increases SALT Read More »