Servicing

The pandemic has upended staffing plans, sparked concerns about servicers’ capacity to handle the expected crush of missed payments, and even raised questions about their ability to stay afloat.

A national moratorium would be costly to lenders and servicers, but proponents say it's needed to help cushion the economic blow of the pandemic.

No-interest loans and overdraft forgiveness are among the lifelines banks are offering to consumers and small businesses whose livelihoods are being upended by the economic fallout.

Banks' lowering of origination fees and loosening of underwriting standards often foreshadow a downturn.

Despite changes by the Federal Housing Administration, bankers remain reluctant to join the program for fear of legal liability. But that could change if it revamps servicing processes, experts say.

A report from the Financial Stability Oversight Council cited a bigger share of originations and servicing by nonbanks as a potential vulnerability in the financial system.

Financial regulators have been put on notice about the risk of an economically damaging cash crunch in the home mortgage market. Behind the concern: the rapid growth of shadow banks in the origination and servicing of home loans.

The San Francisco fintech company has agreed to pay a $110,000 fine for failing to comply with a 2017 state law that requires mortgage servicers to be licensed.

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.

There's plenty credit unions can do to compete with the likes of Quicken Loans' Rocket Mortgage, but sources cautioned more than technology will be needed to boost the bottom line.

The bank agreed to modify loans to struggling U.S. borrowers as part of a 2017 settlement. Instead, it’s receiving credit for financing new mortgages that likely would have been made anyway.