mortgage servicing tests

OCC Says Major Banks Fail Mortgage Servicing Tests

Wells Fargo, Chase, U.S. Bank still fail mortgage servicing tests E. SCOTT RECKARD, LA Times Four years after pledging to clean up wide-ranging foreclosure abuses, Wells Fargo & Co., JPMorgan Chase & Co. and four other banks still aren’t complying with customer-service standards imposed by a federal regulator. The Office of the Comptroller of the […]

Nationstar Is NOT Completely Exiting Lending

Jacob Gaffney, Housing Wire By Nationstar Mortgage Holding‘s (NSM) own admission, they understand why some people got it wrong this morning. It’s complicated, they say. The company announced that it was selling a large portion of its lending operations to Stonegate Mortgage (SGM). A source at the firm said the communications operations there spent today trying to clarify […]

Bookie Turned Glorious Leader Of Mortgage Lending Buys Ally Servicing Rights

Dan Gilbert’s Quicken To Pay $280M For $34 Billion Portfolio Of Fannie/Freddie Loans   Dow Jones Newswire via Fox Business Quicken Loans Inc., the online home lender, is buying a $34 billion mortgage-servicing portfolio from government-owned Ally Financial Inc. for about $280 million. The deal will expand the size of Quicken’s servicing business by nearly […]

Ocwen finalizes acquisition of Homeward Residential

Kerri Ann Panchuk, Housing Wire Mortgage servicer Ocwen Financial Corp. ($35.75 0%) has finalized its acquisition of Homeward Residential Holdings Inc., a company organized by private equity firm WL Ross & Co. in 2007. In a securities filing, Ocwen said it paid $243 million plus the book value amount of Homeward and its subsidiaries, making the aggregate purchase amount reach $766 […]

Is Pam Bondi Living In A Barbie World Paid For By Bank Lobbyists?

Steve Dibert, MFI-Miami When the coalition of state Attorneys General investigating abuses by mortgage lenders and mortgage servicing companies released their initial settlement demand back in March demanding better service, single point of contact, standardized NPV testing and if warranted principal write downs.  Several Dixipublican Attorneys General broke ranks refusing to endorse the plan. Initial […]

Ready to get started?

Speak to a specialist at (888) 737-6344