Chris McEntee is President of ICE Mortgage Services, Atlanta, the business unit responsible the Mortgage Electronic Registration System (MERS), which is now part of Intercontinental Exchange Inc. He serves as a Director of ICE Mortgage Services, the governing board of MERSCORP Holdings Inc. and chairs the Company’s Compliance, Governance and Risk Management Committee.
Category: News and Trends
People in the News June 8 2020
ServiceLink, Pittsburgh, Pa., appointed Yvette Gilmore as senior vice president of servicing product strategy. She will be responsible for developing ServiceLink’s products and services that support strategic servicer client initiatives. She will also support ServiceLink’s EXOS One Marketplace.
FHFA Announces Next Steps for GSE UMBS Pooling Practices
The Federal Housing Finance Agency yesterday directed Fannie Mae and Freddie Mac to “further align their practices for evaluating seller and servicer prepayment related activities.”
Mortgage Credit Availability Falls Again to 6-Year Low
Mortgage credit availability fell again in May, the third consecutive monthly decline, the Mortgage Bankers Association reported this morning.
Dealmaker: Capital One Closes $31M in Freddie Mac Small Balance Loans
Capital One, McLean, Va., provided Freddie Mac small balance loans totaling $31.1 million to finance nine southern California apartment communities.
Clint Salisbury: For eClosing Success, Fine Tune Implementation
Our industry’s reliance on technology is deepening every day as never-before-experienced demands emerge. For example, in a world that demands distance, the ability to perform an eClosing has evolved from nice-to-have to “essential worker” status. Lenders entering this uncharted territory may find setting internal and external eClosing protocols daunting. Whether you adopt a hybrid process or go fully digital, there are best practices consistent for each option that can ensure your successful eClosing implementation.
MBA Survey: Share of Mortgage Loans in Forbearance Slows to 8.53%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance increased to 8.53% of mortgage servicers’ portfolio volume as of May 31, compared to 8.46% the prior week. MBA now estimates nearly 4.3 million homeowners are in forbearance plans.
Quote
“With the job market beginning to gradually improve, more homeowners are exiting forbearance, and we are seeing declines in forbearance volume among some servicers.”
–MBA Chief Economist Mike Fratantoni.
MBA Survey: Share of Mortgage Loans in Forbearance Increases to 8.53%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance increased to 8.53% of mortgage servicers’ portfolio volume as of May 31, compared to 8.46% the prior week. MBA now estimates nearly 4.3 million homeowners are in forbearance plans.
Whitepaper Examines COVID-19 Challenges, Future of Mortgage Industry
Altisource, Luxembourg, recently hosted a Mortgage Industry Pandemic Summit, featuring six sessions and 28 speakers, to discuss the major challenges facing the industry as well as possible solutions. Now, it has published a whitepaper summarizing the summit’s key ideas, best practices, guiding principles and analyst advice, as well as results and analysis of more than 20 poll questions.