Mortgage servicer

KBRA Assigns Preliminary Ratings to New Residential Mortgage Loan Trust 2020-NQM2 (NRMLT 2020-NQM2)

Wednesday, June 17, 2020 - 10:50pm

Kroll Bond Rating Agency, Inc. (KBRA) assigns preliminary ratings to six classes of mortgage-backed notes from New Residential Mortgage Loan Trust 2020-NQM2 (NRMLT 2020-NQM2), a $159.9 million non-prime RMBS transaction.

Key Points: 
  • Kroll Bond Rating Agency, Inc. (KBRA) assigns preliminary ratings to six classes of mortgage-backed notes from New Residential Mortgage Loan Trust 2020-NQM2 (NRMLT 2020-NQM2), a $159.9 million non-prime RMBS transaction.
  • NRMLT 2020-NQM2 is sponsored by New Residential Investment Corp. (NYSE: NRZ).
  • All of the underlying mortgages (100.0% of the pool) were originated, directly or via correspondent, by NewRez LLC, a subsidiary of NRZ.
  • In addition, all loans will be serviced by NewRez LLC d/b/a Shellpoint Mortgage Servicing.

Two Harbors Investment Corp. to Participate in IMN’s Mortgage Servicing Rights Webcast Series

Tuesday, June 9, 2020 - 9:30pm

(NYSE: TWO), a leading mortgage real estate investment trust, announced today that Co-Chief Investment Officer Bill Greenberg is scheduled to present as part of IMNs Mortgage Servicing Rights webcast series being held virtually on June 11, 2020.

Key Points: 
  • (NYSE: TWO), a leading mortgage real estate investment trust, announced today that Co-Chief Investment Officer Bill Greenberg is scheduled to present as part of IMNs Mortgage Servicing Rights webcast series being held virtually on June 11, 2020.
  • Mr. Greenberg will participate in a panel titled An Overview of the Most Recent Developments in the MSR & Mortgage Markets, which is scheduled to begin at 2:00pm ET.
  • The panel discussion will be webcast and made available on Two Harbors website at http://www.twoharborsinvestment.com in the Investor Relations section under the Events and Presentations link.
  • Two Harbors Investment Corp., a Maryland corporation, is a real estate investment trust that invests in residential mortgage-backed securities, mortgage servicing rights and other financial assets.

Brace Receives CFPB No-Action Letter Template for its Loss Mitigation Platform

Tuesday, May 26, 2020 - 12:20pm

LOS ANGELES, May 26, 2020 /PRNewswire/ -- Brace , a best-in class enterprise loss mitigation platform for lenders and servicers, announced that the Consumer Financial Protection Bureau (Bureau) has granted its application for a No-Action Letter Template covering Brace's innovative loss mitigation platform under the Bureau's Policy on No-Action Letters.

Key Points: 
  • LOS ANGELES, May 26, 2020 /PRNewswire/ -- Brace , a best-in class enterprise loss mitigation platform for lenders and servicers, announced that the Consumer Financial Protection Bureau (Bureau) has granted its application for a No-Action Letter Template covering Brace's innovative loss mitigation platform under the Bureau's Policy on No-Action Letters.
  • Brace works behind the scenes as a white-labeled loss mitigation customer- and servicer-workflow automation platform.
  • Mortgage servicers can now leverage Brace's No-Action Letter Template to obtain a Bureau No-Action Letter that removes any ambiguity.
  • "An end-to-end loss mitigation platform which facilitates efficient communication between borrowers and servicers is crucial in this environment and we are grateful to the Bureau for issuing the No-Action Letter Template in response to our application,"said Eric Rachmel, CEO of Brace.

Fannie Mae Announces COVID-19 Payment Deferral

Wednesday, May 13, 2020 - 9:29pm

WASHINGTON, May 13, 2020 /PRNewswire/ --Fannie Mae (OTCQB: FNMA) today announced COVID-19 payment deferral, a payment deferral option for homeowners who experienced a financial hardship due to COVID-19 that has been resolved and are ready to resume their monthly mortgage payments.

Key Points: 
  • WASHINGTON, May 13, 2020 /PRNewswire/ --Fannie Mae (OTCQB: FNMA) today announced COVID-19 payment deferral, a payment deferral option for homeowners who experienced a financial hardship due to COVID-19 that has been resolved and are ready to resume their monthly mortgage payments.
  • COVID-19 payment deferral: Homeowners can resume their regular monthly payments and the amount of their missed payments moves to the end of the loan term.
  • Note: Mortgage servicers will begin offering the payment deferral repayment option starting July 1, 2020.
  • Fannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of Americans.

Ocwen Financial Schedules Conference Call – First Quarter 2020 Results

Friday, May 1, 2020 - 9:15pm

WEST PALM BEACH, Fla., May 01, 2020 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE: OCN) (Ocwen or the Company) will hold a conference call on Friday, May 8, 2020 at 8:30 a.m. (ET) to review the Companys first quarter 2020 operating results.

Key Points: 
  • WEST PALM BEACH, Fla., May 01, 2020 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE: OCN) (Ocwen or the Company) will hold a conference call on Friday, May 8, 2020 at 8:30 a.m. (ET) to review the Companys first quarter 2020 operating results.
  • These events will follow Ocwens first quarter 2020 earnings release.
  • The release will also be available on the Ocwen Financial Corporation website at www.ocwen.com (through a link on the Shareholder Relations page).
  • Ocwen Financial Corporation (NYSE: OCN) is a leading non-bank mortgage servicer and originator providing solutions through its primary brands, PHH Mortgage and Liberty Reverse Mortgage.

Understand Your COVID-19 Mortgage Options

Monday, April 27, 2020 - 3:00pm

WASHINGTON, April 27, 2020 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) wants to remind those impacted by COVID-19 that mortgage assistance and relief options are available, including a forbearance plan through their mortgage servicer (the company listed on their mortgage statement).

Key Points: 
  • WASHINGTON, April 27, 2020 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) wants to remind those impacted by COVID-19 that mortgage assistance and relief options are available, including a forbearance plan through their mortgage servicer (the company listed on their mortgage statement).
  • Under a forbearance plan, a homeowner may be able to temporarily reduce or suspend their mortgage payment while they regain their financial footing.
  • At the end of the forbearance plan, the homeowner will be provided with several options from their mortgage servicer for making up the missed payments and will not be required to pay everything back all at once.
  • "We want every homeowner who is struggling because of this pandemic to know they have mortgage options.

Fintech Innovators Develop Tech Infrastructure to Support Mortgage Assistance Programs

Tuesday, April 14, 2020 - 9:17pm

The companies have been working together this year to perfect a program that automates onboarding of bank statements, pay stubs and mortgage assistance applications (e.g.

Key Points: 
  • The companies have been working together this year to perfect a program that automates onboarding of bank statements, pay stubs and mortgage assistance applications (e.g.
  • "The platform is especially timely as mortgage lenders and servicers are being inundated with requests from millions of Americans looking for mortgage payment relief."
  • "Fintech solutions like Brace and Ocrolus make lenders and mortgage servicers more agile and better prepared to address challenging market conditions."
  • Ocrolus is a fintech infrastructure company that transforms documents into actionable data with over 99% accuracy.

PerformLine Announces New Tools to Assist Mortgage Servicers in Complying with Verbal Loss Mitigation Requirements during COVID-19

Tuesday, April 7, 2020 - 5:00pm

MORRISTOWN, N.J., April 7, 2020 /PRNewswire-PRWeb/ -- PerformLine , the leading provider of automated call center compliance technology, announced the addition of a new suite of tools to assist mortgage servicers in meeting Regulation X requirements for verbal requests for loss mitigation applications into their call centers.

Key Points: 
  • MORRISTOWN, N.J., April 7, 2020 /PRNewswire-PRWeb/ -- PerformLine , the leading provider of automated call center compliance technology, announced the addition of a new suite of tools to assist mortgage servicers in meeting Regulation X requirements for verbal requests for loss mitigation applications into their call centers.
  • The recently passed Coronavirus Aid, Relief, and Economic Security Act ( CARES Act ) includes provisions on forbearance for federally backed mortgage loans.
  • As a result, mortgage servicers are already reporting a huge surge in requests to their call centers from borrowers who are impacted by the pandemic and those conversations, many of which likely qualify as loss mitigation applications, must comply with Regulation X's loss mitigation requirements.
  • Through automated call center monitoring, PerformLine is able to aid mortgage servicers track and flag calls that can be considered the start of "verbal loss mitigation."

Mr. Cooper® Announces Additional Aid for Customers Impacted by COVID-19

Monday, March 30, 2020 - 7:53pm

This may include an extension at the end of their loan to give customers additional months to pay the forbearance amount.

Key Points: 
  • This may include an extension at the end of their loan to give customers additional months to pay the forbearance amount.
  • Digital: Mr. Cooper has launched new digital tools that allow customers to sign in and apply for pandemic forbearance online.
  • Currently, greater than 95 percent of our team members are working from home, which ensures Mr. Cooper can continue to support customers.
  • Mr. Cooper is the consumer brand for the mortgage servicing and originations operation of Mr. Cooper Group Inc. (NASDAQ: COOP).

Two Harbors Investment Corp. Announces Company Update

Thursday, March 19, 2020 - 10:09pm

Additional information concerning these and other risk factors is contained in Two Harbors most recent filings with the Securities and Exchange Commission.

Key Points: 
  • Additional information concerning these and other risk factors is contained in Two Harbors most recent filings with the Securities and Exchange Commission.
  • All subsequent written and oral forward looking statements concerning Two Harbors or matters attributable to Two Harbors or any person.
  • Two Harbors Investment Corp., a Maryland corporation, is a real estate investment trust that invests in residential mortgage-backed securities, mortgage servicing rights and other financial assets.
  • Stockholders of Two Harbors and other interested persons may find additional information regarding the company at the Securities and Exchange Commissions Internet site at www.sec.gov or by directing requests to: Two Harbors Investment Corp., 575 Lexington Avenue, Suite 2930, New York, NY 10022, telephone 612-629-2500.