Nationstar Loses Dual Tracking Lawsuit
A federal judge in Minnesota reversed a Nationstar Mortgage LLC foreclosure. Dual tracking on a loan with a modification application in place was at issue.
Servicers Fare Well in Settlement Compliance Report
The latest report card is in for residential loan servicers included is a massive servicer settlement three years ago, and the group fared well.
Problems Persist at Some Mortgage Servicers
A regulatory report indicates that a few servicers of residential loans are illegally engaging in dual tracking or runarounds.
HAMP Volume Surges
Monthly loan modification volume climbed to the highest level in more than a year. Behind the up tick was a surge in the government's loan modification program.
Mortgage Servicers Face More Regulation in Hawaii
A new law that has been enacted in the Aloha State requires mortgage servicers to make a good-faith effort to modify loans and avoid foreclosure -- among other things.
Proprietary Loan Modification Volume Surges
An acceleration in the monthly number of proprietary loan modifications completed more than offset waning government-funded activity.
Making Home Affordable Programs Extended
Two crisis-era programs that have the government funding mortgage refinances and loan modifications will be extended by a year.
Requirements Stiffened on FHA Distressed Loan Sales
Changes being made to a program to sell distressed mortgages insured by the Federal Housing Administration extend the amount of time investors must wait to liquidate the assets.
Loan Modification Activity Slows
Fewer home loans were modified on a monthly basis, and the decline hit both proprietary modifications and government-supported modifications.
Ocwen Says RMBS Investors Seek Less Borrower Relief
In a letter to trustees on residential mortgage-backed securities, Ocwen Financial Corp. claims that allegations of its non-performance are an attempt by investors to thwart efforts to assist distressed borrowers.