Changes to Servicing Rules Proposed
The Consumer Financial Protection is proposing a number of changes to the servicing rules and how distressed loans are handled.
Modification Volume Slows to a Crawl
Monthly loan modification activity has fallen to the lowest level in more than six years -- with government-supported volume slowing to a trickle.
Judge Tosses Most of Huge Jury Award Against PHH
A more than $16 million jury award against PHH Mortgage Services has been mostly thrown out by the judge in the case.
Ocwen Accused of Backdating Borrower Letters
Ocwen Financial Corp. has been accused of serious issues in its servicing practices including potentially backdating hundreds of thousands of borrower letters.
GSE Mods Ok On FL Loans Delinquent Over 2 Years
Florida borrowers who are more than two years past due on their government-sponsored enterprise mortgages will have an opportunity to modify their loans.
Proprietary Modification Volume Up, HAMPs Slip
An increase in the number of monthly proprietary loan modifications completed more than offset a reduction in the number of government-supported modifications.
Servicing Rules Allegedly Violated in CFPB Action
Regulatory action has been taken in the case of a residential loan servicer that allegedly violated mortgage servicing rules with the way it handled loan modifications.
Loan Modification Activity Fades
The volume of mortgage loan modification activity was down on a month-over-month basis and tumbled on a year-over-year basis.
Proprietary Activity Drives Rise in Loan Modifications
The monthly volume of loan modifications that were completed edged up, though not much. The gain might have been stronger if it weren't for drop in government-supported activity.
PHH Challenging Huge Award in Modification Lawsuit
A PHH Corp. mortgage unit is challenging a huge jury verdict in a lawsuit alleging that it botched a loan modification for a California borrower.