Servicing

Credit unions in the Garden State are frequently at the bottom of national rankings for key financial metrics. Further consolidation is likely needed to help bolster these results.

The Federal Housing Administration should monitor reverse mortgage servicers more closely and track related data that would shed light on a rise in defaults, according to a Government Accountability Office report.

While many lenders lately managed their business expecting reduced volume, now they get to capitalize on extremely low mortgage rates. But today's benevolent conditions will not always be with the industry.

With long-term interest rates at historic lows, mortgage refinancing is coming on strong. But that additional revenue may not be enough to offset net interest margin pressures and lost servicing income.

The industry has long worried that the ability-to-repay rule gives borrowers an avenue to fight foreclosure, but one plaintiff’s experience may discourage others from trying.

A recent investigation found that institutions taken over by the National Credit Union Administration “are often the least willing to work with borrowers struggling to afford their loans.”

FB Financial is selling its correspondent lending channel to Rushmore Loan Management Services, which will complete the bank holding company's restructuring of its mortgage business.

The mortgage agency has hired Eric Blankenstein, who sparked controversy while at the consumer bureau over past revelations of racially charged writings.

Secretary of Housing and Urban Development Ben Carson appeared not to recognize a commonly known real estate term during a congressional hearing on Tuesday.

The moves are part of a plan CEO Rajinder Singh discussed in a conversation with American Banker.