To satisfy antitrust regulators, ICE divests itself of Black Knight's loan origination and mortgage pricing business, but gets access to mortgage loan servicers and MLSs in $11.9B merger
Loan servicer Mr. Cooper is 'deeply disappointed' that the HUD OIG audit focused on problems it says were mostly technical, rather than on borrower outcomes
Consumer Financial Protection Bureau warns of reputational and legal risks of relying on 'deficient chatbots' as a primary mode of interacting with customers
After selling off originations businesses and laying off thousands of employees, Home Point agrees to sell itself — and $84B in mortgage servicing rights — for $324M in cash
The loan servicer spends 'several hundred million dollars a year' on call center operations and expects $50M in annual savings at the outset of a 'multiyear' artificial intelligence project
Parent company Home Point Capital to take an equity stake in The Loan Store, with Homepoint executive Phil Shoemaker to be installed as CEO when the deal closes by end of Q2
Mr. Cooper, which had 8,200 employees at the end of last year, laid off 250 workers from its lending business during the first quarter and announced another 420 layoffs in June
While growing loan servicing business remains profitable, according to Q3 earnings, paper gains on servicing rights could evaporate if interest rates fall and borrowers refinance out of portfolio
The lender plans to boost revenue by growing purchase loan business and loan servicing portfolio, with digital HELOC also in the works, according to a second-quarter earnings call
The Arkansas-based lender will use Sagent’s servicing solutions to collect monthly payments from borrowers and manage loans when homeowners get behind on their payments
Investors warned of 'break even' second quarter as rising mortgage rates put a bigger-than-expected dent in loan originations
Sale of Xome subsidiary could be in the works as lenders boost foreclosure filings and auction platform's distressed property inventory swells to record levels
In a coup for Black Knight, the deal is the latest in a growing trend as lenders see servicing as a way to smooth out revenue and retain past customers when they refinance or buy their next home
Pittsburgh-based Clearview Federal Credit Union partners with Sagent to bring its mortgage servicing business in-house. The company has announced several similar deals in months past
'Bank-on-your-phone experience' lets consumers manage entire homeownership lifecycle from any device