The Consumer Financial Protection Bureau (CFPB) ordered three reverse mortgage servicing companies to cease operating in their industry, citing what the regulator described as “illegal activities that harmed older homeowners and caused them to fear losing their...
The nonbank mortgage servicer Ocwen Financial Corporation has begun operating under its new brand name Onity Group Inc. The West Palm Beach, Florida-based company’s common stock will begin trading today on the New York Stock Exchange under the symbol “ONIT.” Onity’s...
A total number of 110,000 homeowners were in forbearance plans during April, according to data from the Mortgage Bankers Association (MBA). The total number of loans in forbearance remained unchanged at 0.22% from one month earlier. Last month, the share of Fannie Mae...
The Federal Housing Administration (FHA) is rolling out a new loss mitigation home retention option aimed at delinquent borrowers with FHA-insured single-family forward mortgages. The new option is called the Payment Supplement and it allows mortgage servicers to...
Paradatec Inc., a provider of artificial intelligence (AI)-based document analysis technology for the lending and real estate industries, announced the availability of a new analytics module designed to automatically compare system-of-record data from different...
Pending Home Sales Slide to Nearly Three-Year Low as Buyers Pull Back
