Loan subservicer Dovenmuehle Mortgage laying off 212 workers
Illinois-based Dovenmuehle, which collects monthly payments from homeowners in all 50 states on behalf of lenders and investors, is trimming staff at Lake Zurich HQ but not closing down
by Matt Carter Dec 22
Mr. Cooper back online after 'precautionary' 4-day shutdown
More than 4M homeowners send their mortgage payments to Mr. Cooper, but it's unclear how many had their data exposed as the company continues to investigate security breach
by Matt Carter Nov 9
Mortgage assistance for Hawaii fire victims includes forbearance help
Fannie Mae, Freddie Mac and the Federal Housing Administration outlined relief for homeowners as FEMA and the state of Hawaii rushed to provide emergency housing for displaced residents
by Matt Carter Aug 15
Planet Home Lending acquires $10B in mortgage servicing rights
Bulk acquisition of servicing rights to 45,000 Ginnie Mae loans from Village Capital & Investment brings Planet's servicing portfolio to $94B with more purchases eyed for 2023
by Matt Carter Jun 23
Even after layoffs, 3 in 4 mortgage lenders lost money in Q4 2022
Lenders lost $2,812 per loan as business dropped off faster than they could trim expenses and production costs hit a record-high $12,450 per loan, Mortgage Bankers Association survey finds
by Matt Carter Mar 17
Federal consumer watchdog flags mortgage servicers' junk fees
The CFPB alleges mortgage servicers charged excessive late fees, assessed 'fake' private mortgage insurance premiums and made homeowners pay for unnecessary inspections
by Matt Carter Mar 8
Mr. Cooper lays out path to $1T mortgage servicing rights portfolio
Rising mortgage rates have many lenders looking to sell servicing rights, creating opportunity for Dallas-based company that now collects payments on $870B in loans
by Matt Carter Feb 10
Wells Fargo paying $3.7B to settle mortgage, auto loan allegations
Federal regulators allege bank improperly denied thousands of mortgage loan modifications over at least 7 years, in some cases leading customers to lose their homes
by Matt Carter Dec 20
Carrington grudgingly signs off on $5.25M COVID-19 relief settlement
CFPB alleges some homeowners who sought forbearance during the pandemic were charged improper late fees and weren't fully informed of their options
by Matt Carter Nov 17
Haven scores $8M Series A to help mortgage servicers cross market
Latest funding round, led by Fifth Wall with participation by Fidelity National Financial, RWT Horizons and 1Sharpe Ventures, brings total funding to date to $13.5M
by Matt Carter Nov 1
Homeowners often miffed if lenders outsource servicing: Study
J.D. Power's annual Mortgage Servicer Satisfaction Study finds customer satisfaction is 26% higher when mortgages are originated and serviced by the same company
by Matt Carter Jul 28
Sagent signs 7-year deal to power loan servicing for Servion Mortgage
'Bank-on-your-phone experience' lets consumers manage entire homeownership lifecycle from any device
by Matt Carter Nov 16
Acquisitions spur Black Knight's double-digit revenue growth
Company raises guidance on strong second quarter performance, impact of Top of Mind and eMBS acquisitions
by Matt Carter Aug 5
Facing foreclosure fraud claims, HSBC settles at $601 million
Various government regulators allege the bank had shoddy mortgage servicing and foreclosure activity oversight
by Amy Tankersley Feb 10
Consumer Financial Protection Bureau taking mortgage complaints seriously
2 out of 3 who file grievances get some sort of satisfaction
by Ken Harney Apr 22