Housing Wire

MARCH 6, 2024

Department of Treasury Secretary Steven Mnuchin’s private equity firm, Liberty Strategic Capital , will inject $1 billion in equity investment in struggling New York Community Bancorp (NYCB), one of the nation’s largest residential mortgage servicers. billion goodwill impairment. billion, with a coverage ratio of 163%.

Investing 328

Investing Mortgage Real Estate Investors 328

Housing Wire

SEPTEMBER 6, 2023

Department of Housing and Urban Development (HUD)-approved counselors can use fee for pre-purchase counseling and homeownership education services. On September 1, CFPB released a non-exhaustive list of HUD-issued official rules, interpretations and policy statements that continue to be applied by the CFPB.

Mortgage 382

Mortgage Contracts Real Estate Development 382

Housing Wire

MARCH 18, 2024

Nations Direct Mortgage will provide services through Kroll at no cost to the recipient for 24 months. The identity monitoring services include credit monitoring, a web watcher, $1 million in identity fraud loss reimbursement, fraud consultation and identity theft restoration. The breach was quickly contained, the lender stated.

Mortgage 417

Mortgage Government Sellers Clients 417

Housing Wire

DECEMBER 21, 2023

This attack comes less than month after First American was asked to pay the New York Department of Financial Services (DFS) $1 million as part of a cybersecurity violation settlement. Source told HousingWire that closings have had to be delayed as a result of the cybersecurity incident.

Clients 523

Clients Real Estate Business Mortgage 523

Inman

APRIL 27, 2023

The loan servicer spends "several hundred million dollars a year" on call center operations and expects $50 million in annual savings at the outset of a 'multiyear' artificial intelligence project.

Mortgage 124

Mortgage Technology 124

Housing Wire

JANUARY 30, 2024

a New York-based real estate investment trust, announced Tuesday its plan to launch a mortgage origination unit in the second quarter of 2024, less than a year after the company debuted in the servicing business by acquiring RoundPoint Mortgage Servicing Corp. This risk reduces the value of mortgage servicing rights (MSR).

Investing 348

Investing Retail Real Estate Mortgage 348

Housing Wire

NOVEMBER 14, 2023

Homeowners can manage payments and escrows, go paperless, find savings opportunities and remain engaged with their servicers. With tools like applying for mortgage assistance and promotional targeted site messages, CARE helps servicers build lifetime relationships with their homeowners!

Design 367

Design Tools Technology Mortgage 367

Housing Wire

JANUARY 30, 2024

is issuing $1 billion in senior notes. The resources are expected to repay a portion of the current balance of its mortgage servicing rights (MSR) facilities. Other mortgage companies have raised debt over the past six months, including Freedom Mortgage , PennyMac Mortgage Investment Trust and Pennymac Financial Services.

Investors 324

Investors Mortgage Investing Business 324

Housing Wire

APRIL 24, 2024

million and Austin 10th with 1 million. Fort Worth is also in the top 15 with nearly 1 million people.) 1 brokerage by listing count from 2019 through 2023. That’s a lot of new Texans in a state that already has three of the nation’s 10 largest cities. Houston ranks fourth with 2.3

Brokerage 337

Brokerage Realty Marketing Real Estate 337

Housing Wire

MARCH 5, 2024

LenderLogix , a provider of white-label mortgage software, has integrated with AccountChek , a digital verification service for assets, income and employment, the companies announced on Tuesday. AccountChek was acquired in March 2023 by publicly traded title insurer Stewart Information Service Corp.

Clients 376

Clients Insurance Tools Lending 376

Housing Wire

NOVEMBER 10, 2023

District Court in the Southern District of New York, alleging that Real Estate Board of New York rules governing the multiple listing service in Manhattan kept commissions high and violated state and federal antitrust laws. Sloane Square , and Sotheby’s International Realty Affiliates. 8, 2019, and the present.

Real Estate 460

Real Estate Brokerage Sellers Law 460

Housing Wire

JANUARY 23, 2024

From application through servicing, our platform drives efficiency and ensures compliance and scalability. Product Fast Facts #1 Robust flagship LOS and mobile apps for borrowers, loan officers, correspondents, and brokers. Plus, standalone solutions for settlement agents, servicers, and document management. #2 Get More Info

Lending 293

Lending Architecture Loan Officers Tools 293

Housing Wire

NOVEMBER 9, 2023

The lender and servicer informed law enforcement, regulatory authorities and other stakeholders. Servicing operations resumed on Nov. The company has already resumed buying mortgage servicing rights (MSRs). It aims to reach $1 trillion in MSR, including via acquisitions. Mr. Cooper had 4.3 Mr. Cooper funded $3.3

Legal 405

Legal Law Finance Technology 405

Housing Wire

NOVEMBER 2, 2023

This strategic move allows Trustar Bank to focus on our core services while still providing portfolio mortgages to our valued customers,” Shaza Andersen, CEO of Trustar Bank, said in a statement. The financials of the deal were not disclosed.

Mortgage 393

Mortgage Loan Officers Construction Retail 393

Housing Wire

JANUARY 23, 2024

Product Fast Facts #1 Integrates seamlessly with a lender’s loan origination platform, via API services, to read, react, and perform real-time, automated, underwriting activities. #2 The results: lower costs, reduced risk of human error, and faster loan approvals. Conditions and tasks cleared without human intervention.

Loan Conditions 354

Loan Conditions Lending Mortgage 354

Housing Wire

APRIL 24, 2024

Amid a challenging environment, Freedom has kept its cost structure low and has acquired loans to increase its servicing portfolio. Inside Mortgage Finance (IMF) estimates Freedom’s owned mortgage servicing was $458 billion at the end of 2023, up 1.3% while adding that ”we’re getting towards the tail.”

Mortgage 400

Mortgage Business Finance Investing 400

Housing Wire

DECEMBER 27, 2023

The systems outage has derailed closings across the country over the holidays for homebuyers and sellers using the company’s title services in more than 2,000 locations. However , ServiceMac , First American’s mortgage servicer subsidiary, had come back online after being offline through Tuesday afternoon.

Sellers 492

Sellers Insurance Valuation Clients 492

Housing Wire

AUGUST 1, 2023

With the deals, Mr. Cooper has moved closer to its $1 trillion mortgage servicing rights (MSR) portfolio target. The servicing portfolio grew because of Rushmore’s special servicing platform acquisition. Mr. Cooper concluded on Monday a tender offer for Home Point’s outstanding shares after extending the deadline twice.

Investors 370

Investors Design Insurance Investing 370

Housing Wire

OCTOBER 31, 2023

The report, published on Monday, shows that the return on average assets – an indicator of how well companies use their assets to generate profits – reached 1% in the second quarter of 2023 for six lenders, compared to -2% in the previous quarter. Looking ahead, rate declines expected by the end of 2024 could pressure MSR valuations.

Mortgage 413

Mortgage Valuation Finance Investing 413

Housing Wire

JUNE 10, 2022

Finicity Mortgage Verification Services (MVS). The solution offers flexible flows for all mortgage lending use cases. Product Fast Facts. #1. GSE-accepted for rep and warranty relief. #2. Reduces cost and shortens the time for loan origination. #3. Available across the ecosystem through major LOS/POS platforms. Get More Info.

Lending 365

Lending Mortgage 365

Housing Wire

FEBRUARY 13, 2024

In total, $10 billion was allocated for the fund by the American Rescue Plan, with $1 billion going to California. 1 and are still in arrears, or who’ve missed at least one property tax payment by Feb. 1,” the Los Angeles Times reported.

Property Taxes 321

Property Taxes Mortgage Design Insurance 321

Housing Wire

FEBRUARY 20, 2024

.” Autopilot was added to the company’s deal-flow engine Actionable Data Intelligence, which in 2023 was used to structure 6 million loan offers and generate $1 billion in origination volume for its clients, the company reported. A top 10 servicer is already using Autopilot, the company reported.

Technology 361

Technology Clients Finance Investing 361

Housing Wire

SEPTEMBER 25, 2023

1 will negatively affect consumer loan asset quality, including credit card, auto and, to a lesser extent, residential mortgages. 1, repayments are due to restart on Department of Education (DOE) federal student loans (Direct Student Loans), which began accruing interest again on Sept. Federal student loan payments resuming on Oct.

Mortgage 400

Mortgage Marketing 400

Housing Wire

DECEMBER 6, 2023

Pennymac Financial Services is the latest mortgage company to issue debt in a challenging housing market. billion in about 24 hours, higher than the $1 billion expected by the company, reflecting an oversubscribed deal. For example, Freedom raised $1.3 Other peers would follow suit, analysts said at that time.

Contracts 374

Contracts Investing Mortgage Investors 374

Housing Wire

APRIL 26, 2023

The servicing portfolio again propelled the quarterly performance, but this time, the origination segment also contributed to the results by returning to profitability. The company reported on Wednesday that it delivered $37 million in net income from January to March, compared to $1 million in the fourth quarter. Mr. Cooper had 4.1

Contracts 360

Contracts Government Business Clients 360

Housing Wire

DECEMBER 12, 2023

The Council of Multiple Listing Services announced its new board of director members for 2024 on Tuesday. Other directors on the CMLS board include executives from UtahRealEstate.com , Bright MLS , MIBOR Realtor Association , and Hawaii Information Services , among others. CMLS announced its new executive committed in October.

Real Estate Agent 377

Real Estate Agent Real Estate Agents Government 377

Housing Wire

JANUARY 30, 2024

The mortgage-servicing rights (MSR) market remains robust as we turn the corner into 2024, and though it is expected to slightly underperform 2023, the market is still projected to notch healthy trading volumes in 2024 — hovering near the $1 trillion mark for the fourth year in a row, market observers forecast. Those two [Mr.

Marketing 360

Marketing Mortgage Sellers Buyers 360

Housing Wire

SEPTEMBER 13, 2023

As amended, the bill provides that California notaries could begin to offer online notarization services beginning January 1, 2030 though stakeholders like Notarize hope it will be years earlier. It found that California was one of the least equitable states in the country when it came to access to financial and government services.

Real Estate 380

Real Estate Legal Government Technology 380

Housing Wire

NOVEMBER 30, 2023

Fidelity initially notified the public two days after the attack, revealing the firm experienced disruptions to title insurance, escrow and other title-related services, as well as mortgage transactions and technology for the real estate and mortgage industries.

Insurance 408

Insurance Government Real Estate Clients 408

Housing Wire

FEBRUARY 14, 2023

Qualia The Qualia technology infrastructure for title & escrow companies, lenders, title insurers, and service providers enables each party to complete their own unique tasks required for a closing and exchange information in real time, standardize and automate back-and-forth workflows, and collaborate with one another in a way never before possible. (..)

Insurance 304

Insurance Realtors Clients Technology 304

Housing Wire

DECEMBER 14, 2022

CARE is Sagent’s consumer platform that links a modern, bank-on-your-phone experience for borrowers with seamless human care from servicers. In the month of October, we had over 1 million unique users logging into CARE who submitted over 1.2 They can also quickly apply for and resolve forbearances and loan mods during hardships.

Modernization 367

Modernization Design Tools 367

Housing Wire

JANUARY 9, 2024

Weinbach, 50, will be in charge of the company’s operations, which includes originations, servicing and technology, Mr. Cooper announced on Tuesday. On the servicing side, it had 4.3 He will succeed Chris Marshall, who is retiring at the end of 2024 but will assist with the transition. The effective date is Feb.

Lending 360

Lending Clients Technology Mortgage 360

Housing Wire

FEBRUARY 14, 2024

If you’re known in your market as the expert who successfully sells properties between $1 to $3 million, how do you start getting clients looking for homes valued at $10 million+? Typically, luxury properties command a premium value due to their unique features, prime locations, and the level of customization and service associated with them.

Real Estate Agent 399

Real Estate Agent Real Estate Agents Luxury Properties 399

Housing Wire

MAY 16, 2022

Servicers’ forbearance portfolio volume dropped in April to a level below 1%, with fewer than half a million borrowers remaining with an active plan, according to the monthly Loan Monitoring Survey conducted by the Mortgage Bankers Association (MBA). Meanwhile, Fannie Mae and Freddie Mac loans dropped by six basis points to 0.43%.

Mortgage 415

Mortgage Marketing 415

Housing Wire

SEPTEMBER 27, 2023

community bank, was accused of illegally avoiding providing mortgage services to majority Black and Hispanic neighborhoods in Rhode Island. The DOJ alleges that the bank also failed to train and incentivize its staff to market and advertise its mortgage services to compensate for its lack of presence in these areas.

Advertising 402

Advertising Loan Officers Lending Training 402

Housing Wire

AUGUST 22, 2023

The total number of loans now in forbearance decreased by 5 basis points to 0.39% of servicers’ portfolio volume in July from 0.44% May, according to the Mortgage Bankers Association ’s (MBA) monthly loan monitoring survey. Mortgage servicers have provided forbearance to about 7.9 million borrowers since March 2020. .”

Mortgage 341

Mortgage Investors Finance 341

Housing Wire

NOVEMBER 28, 2023

Big Four title firm First American must pay the New York Department of Financial Services (DFS) $1 million as part of a cybersecurity violation settlement, according to an announcement on Tuesday.

Real Estate 367

Real Estate Government Clients Insurance 367