• Ocwen2.71+0.04 +1.50%
  • Zillow42.87-0.36 -0.83%
  • Trulia47+0 +0%
  • NationStar17.37-0.19 -1.08%
  • CoreLogic41.81+0.10 +0.24%
  • RE/MAX55.25-0.40 -0.72%
  • Fannie Mae2.81+0.08 +2.93%
  • Freddie Mac2.675+0.055 +2.099%
  • Wells Fargo53.02-0.72 -1.34%
  • CitiMortgage61.07+0.37 +0.61%
  • Bank of America24.00-0.07 -0.29%
  • Lennar50.39-0.60 -1.18%
  • Fidelity National Financial40.39-0.08 -0.20%
  • D.R. Horton33.07-0.18 -0.54%
  • PulteGroup22.75-0.27 -1.17%
  • First American41.66-0.40 -0.95%
  • BKFS39.10+0.20 +0.51%
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Home >> News >> Servicing (page 335)

Chamber: FTC, CFPB Need Fine-Tuning

Chamber: FTC, CFPB Need Fine-Tuning

Concerned by the risk that new regulatory infrastructure may duplicate existing financial rules, the U.S. Chamber of Commerce sent a letter to the Treasury Department and Federal Trade Commission on Monday outlining recommendations to minimize overlap between the former and the Consumer Financial Protection Bureau. Addressing Treasury Secretary Timothy Geithner and FTC Chairman Jon Leibowitz, the letter called for a Memorandum of Understanding in order to clarify and empower the FTC and CFPB.

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ABA, Mortgagebot Renew Alliance

ABA, Mortgagebot Renew Alliance

Under a new agreement between American Bankers Association subsidiary Business Solutions and Mortgagebot, banks signed up with the former will have the ability to access solutions for their online mortgage applications.

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FHFA: GSEs Cut Into Jumbo Mortgage Market

FHFA: GSEs Cut Into Jumbo Mortgage Market

The Federal Housing Finance Agency released research on this week indicating a greater-than-expected drive to high conforming jumbo mortgages (HCJMs) by Fannie Mae and Freddie Mac, raising questions about the long-term impact their buying spree may have on private markets. According to the research, the government-sponsored enterprises walked away this year with approximately 55 percent of HCJMs in 10 of the nation's high-cost counties, a number totaling approximately 50,000 mortgages worth over $30 billion.

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Moody’s to Review ‘Too Big’ Banks

Moody’s to Review ‘Too Big’ Banks

Spooked by speculation that the federal government may withhold bailout funds from banks deemed too big to fail in another crisis, Moody's Investors Service placed the debt ratings for three leading banking institutions under review in June, according to NASDAQ.com. The ratings agency said that the reviews will assess deposit, senior debt, and senior subordinated debt ratings. If lowered, the new ratings would downgrade the banks' reputation as financially solvent institutions, diminishing their abilities to borrow large sums and meet bottom lines.

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MountainView Offers $188M Ginnie Mae Servicing Portfolio

MountainView Offers $188M Ginnie Mae Servicing Portfolio

MountainView Servicing Group, a subsidiary of MountainView Capital Holdings, announced Monday that it will serve as the exclusive advisor for a $188 million Ginnie Mae servicing portfolio. The portfolio is comprised entirely of fixed-rate mortgage loans, 98.1 percent of which are Federal Housing Administration (FHA) loans, with 99.9 percent retail origination and a weighted average interest rate of 5.95 percent.

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MBA Nominates E.J. Burke as 2012 Vice-Chair

MBA Nominates E.J. Burke as 2012 Vice-Chair

On Monday the Mortgage Bankers Association (MBA) released a statement announcing the nomination of E.J. Burke, a senior executive and director at KeyBank Real Estate Capital and Corporate Banking Services, as its vice-chair. Burke has more than three decades of experience in the mortgage banking business, At KeyBank, he also served as head of real estate capital markets, presiding over its commercial mortgage division as managing director.

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Fiserv and Dollar Bank Consolidate Consumer Loans

Fiserv and Dollar Bank Consolidate Consumer Loans

Dollar Bank, one of the nation's largest mutual savings banks, is teaming up with Fiserv, Inc. to institute a single online platform that streamlines all of the bank's borrower loan information. Fiserv's online, real-time servicing solution consolidates borrower information for banks, credit unions, and investors. The company says by pooling all of Dollar Bank's consumer loans onto one servicing platform, the lender can realize additional cost savings and better serve its customers at the same time.

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PSM Holdings, Brookside Sign Merger

PSM Holdings, Brookside Sign Merger

PSM Holdings, Inc. has agreed to merge its mortgage banking arm with Oklahoma's Brookside Mortgage, LLC, forming a new entity that the parent company will manage under a wholly owned subsidiary. The merger serves as the next step in a broader expansion strategy by PSM Holdings, which it began in 2010 by acquiring another Oklahoma-based mortgage banking company, CBB, Inc., and continued by acquiring UCMC in February this year.

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