Category: Top National News

HousingWire, Feb. 9, 2018–Joseph DeStasioThe author, who spoke at the recent MBA National Servicing Conference, says it’s time we change the conversation and recognize that people matter. Talented, happy team members create happy customers. And, when this focus is partnered with the right technology, the industry will finally be able to see some real change.

Wall Street Journal, Feb. 9, 2018–AnnaMaria Andriotis (subscription)Equifax said, in a document submitted to the Senate Banking Committee and reviewed by The Wall Street Journal, that cyberthieves accessed records across numerous tables in its systems that included such data as tax identification numbers, email addresses and drivers’ license information beyond the license numbers it originally disclosed.

HousingWire, Feb. 9, 2018–Ben LaneWith the bankruptcy now in the rearview mirror, Walter Investment is changing its name to Ditech Holding Corp., adopting the name of its prominent subsidiary Ditech Financial.

Mortgage Daily, Feb. 9, 2018New mortgage activity moved higher this week, and refinances saw the biggest gain. Cashouts accounted for a bigger share of business than during any week on record.

Bloomberg, Feb. 8, 2018–Prashant GopalThe share of borrowers who are late on their Federal Housing Administration loans, which primarily go to first-time homebuyers, rose to 10.4 percent in the fourth quarter from 9 percent a year earlier, according to data from the Mortgage Bankers Association.

National Mortgage News, Feb. 8, 2018–Brad Finkelstein (free story)To put it mildly, 2017 – with three major hurricanes, wildfires and other extraordinary events – was a living stress test of servicers’ and government agencies’ preparedness plans for helping borrowers in damage zones. Their coordinated responses appear to have improved from past natural disasters, industry and government representatives said Wednesday during panel discussions at the Mortgage Bankers Association Servicing Conference in Dallas.

Mortgage Daily, Feb. 8, 2017Home-lending activity slowed at PennyMac Financial Services Inc. But the company reported growth in both its servicing and staffing.

Bloomberg, Feb. 8, 2018–Joe LightNine lenders have been warned by Ginnie Mae that they will be kicked out of a top mortgage program within months unless they find ways to stop costly rapid refinances of veterans’ loans.

National Mortgage News, Feb. 8, 2018–Brian Collins (subscription)The House passed a bill Thursday that would loosen regulatory restrictions on the mortgage points and fees charged by lender-affiliated title insurers and other companies.

National Mortgage News, Feb. 7 2018–Austin Kilgore (free story)Mortgage servicers should approach efforts to overhaul their compensated structure with caution, as changes to the status quo “could have ripple effects across the entire real estate finance industry,” warned Mortgage Bankers Association Chairman David Motley, CMB.