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Servicing

Cenlar’s Leslie Peeler on ‘disruptive AI’ for mortgage servicing

AI Summit, AI Summit 2025, Artificial Intelligence, HWmember, Mortgage, Mortgage Servicing, Servicing, Technology /

Artificial intelligence may be known for its speed, but in mortgage servicing, the real opportunity is in reshaping decades-long relationships with homeowners, according to Leslie Peeler, executive vice president and chief operating officer at Cenlar FSB. Speaking at HousingWire’s AI Summit on Tuesday, Peeler told the audience how her time at IBM shaped her view […]

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Late-stage delinquencies, foreclosures see noticeable spike

Distressed, Industry News, Mortgage Bankers Association, Servicing /

New mortgage delinquencies showed overall improvement in loan performance, but in what could be a more concerning trend, later-stage distress and foreclosures trended upward in the second quarter. The overall delinquency rate decreased to a seasonally adjusted 3.93% during the quarter, reflecting pullbacks from both three months and one year earlier from 4.04% and 3.97%,

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Fannie Mae adds new temporary buydown rules for servicers

Fannie Mae, Secondary markets, Servicing /

Fannie Mae recently updated its servicing guidelines to include new instructions for handling temporary interest-rate buydowns, which have become more popular as a way to attract borrowers. The new guidelines provide clarity for servicers on how to manage these loans. The new rules, which Fannie has asked servicers to adopt immediately, become mandatory Nov. 1.

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DougWhittemore-Selene

Selene Holdings’ Doug Whittemore on scale, cost, niche loans

Capital markets, Career moves, LOAN PRODUCTS, Servicing /

Since taking on responsibility for all Selene Holdings’ business lines earlier this year, Chief Strategy and Growth Officer Doug Whittemore has been focused on product development and scale by drawing on his 25 years of bank and nondepository experience. Whittemore — who previously led teams at U.S. Bank, JPMorgan Chase, Mr. Cooper and Citibank —

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Private MI market share gaps widen in Q2

Distressed, Housing markets, LOAN PRODUCTS, Mortgage insurance, Originations, Servicing, Underwriting /

Private mortgage insurers wrote just 2% more new business on a year-over-year basis in the second quarter, but market share shifts widened the spread between the six underwriters. The industry-wide market share gap was 1.7 percentage points for both the second quarter 2024 and first quarter of 2025, according to data from Keefe, Bruyette &

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Cypress Loan Servicing settles with Mass. AG for $2 million

Law and regulation, Servicing /

Cypress Loan Servicing received an assurance of discontinuance from Massachusetts Superior Court in Suffolk County after agreeing to pay $2 million to settle legacy allegations. The payment by the company, which previously operated as Rushmore Loan Management Services, will go toward a state penalty and borrower restitution. The court agreement calls for business practice change

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More homeowners struggle to keep up with property taxes

Home Prices, Housing markets, Property taxes, Servicing /

The national property tax delinquency rate accelerated last year, with data indicating potential emerging financial strain among some segments of mortgage borrowers. The share of property tax delinquencies across the U.S. increased to 5.1% in 2024, rising from 4.5% one year earlier, according to a new report from real estate data provider Cotality. The research

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Cypress Loan Servicing settles foreclosure case for $2M

Foreclosure, HWmember, Lawsuit, Legal, Massachusetts, Mortgage, Mortgage Servicing, Servicing /

Cypress Loan Servicing has reached a $2 million settlement with the Massachusetts Attorney General’s Office (AGO) over allegations that it violated state foreclosure prevention and consumer protection laws. According to the AGO, Cypress — formerly known as Rushmore Loan Management Services — allegedly put homeowners at unlawful and unnecessary risk of foreclosure by violating Section

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UWM aims for broker-majority market amid 300% profit surge

Earnings, MARKETING TO BORROWERS, Originations, Servicing, UWM /

UWM Holdings CEO Mat Ishbia’s new target for mortgage broker originations share is for them to do over half of production. On the company’s earnings call, he cited statistics giving the current broker share at 30%. “Our goal is for brokers to be No. 1,” Ishbia said. “In my mind, that means 50.1%; I don’t

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