Mortgage servicer

First United Bank Signs Long-Term Extension for Black Knight's MSP Servicing System, Adds Servicing Digital Solution

Retrieved on: 
Thursday, April 15, 2021

First United Bank will continue to use MSP to help them manage its mortgage servicing processes, payment processing, escrow administration, default management and more.

Key Points: 
  • First United Bank will continue to use MSP to help them manage its mortgage servicing processes, payment processing, escrow administration, default management and more.
  • In addition, the bank will implement Black Knight\'s fully integrated Servicing Digital solution to further enhance the customer experience.\n"Our continued partnership with Black Knight will support First United\'s efforts to elevate 10,000 lives by year 2030," said Mark Dawson, Executive Vice President and Chief Financial Services Officer at First United Bank.
  • "MSP has already proven to be a trusted servicing platform for our business to help us reach this goal.
  • While First United Bank will use the responsive web design version of Servicing Digital, the solution is also available in a native mobile app.\nFirst United Bank also began using Black Knight\'s Loss Mitigation and Payoff Express solutions last year, both of which fully integrate with the MSP system.

U.S. Foreclosure Activity Continues To Increase Despite Government Moratorium

Retrieved on: 
Thursday, April 15, 2021

"But mortgage servicers have been able to begin foreclosure actions on vacant and abandoned properties, which benefits neighborhoods and communities.

Key Points: 
  • "But mortgage servicers have been able to begin foreclosure actions on vacant and abandoned properties, which benefits neighborhoods and communities.
  • It\'s likely that these foreclosures are causing the slight uptick we\'ve seen over the past few months.
  • "\nHighest foreclosure rates in Delaware, Illinois, and Florida\nNationwide one in every 4,078 housing units had a foreclosure filing in Q1 2021.
  • Some foreclosure filings entered into the database during the quarter may have been recorded in the previous quarter.

Plutos Sama Holdings Inc. Explores the Death of the Conventional Office Park & Predicts What Comes Next

Retrieved on: 
Monday, April 5, 2021

Plutos Sama Holdings Inc. points out that after getting blindsided during the Great Recession, policymakers and residential mortgage servicers learned some painful lessons, and when the pandemic erupted they were prepared to offer deferments and programs for COVID-related issues.

Key Points: 
  • Plutos Sama Holdings Inc. points out that after getting blindsided during the Great Recession, policymakers and residential mortgage servicers learned some painful lessons, and when the pandemic erupted they were prepared to offer deferments and programs for COVID-related issues.
  • After hanging on for as long as they could, many were forced to file for bankruptcy protection or permanently shut down.
  • Yet, while the conventional office park is history, Pluto Sama Holdings Inc. does not expect them to disappear.
  • So yes, the conventional office park is dead, but in its place should emerge something new; and in the big picture, possibly much better.

PHH Mortgage Names Industry Veteran Andy Peach as Head of Correspondent Lending

In this role, Mr. Peach will be responsible for leading PHHs rapidly growing Correspondent Lending business and will report directly to George Henley, Ocwens Chief Growth Officer.

Key Points: 
  • In this role, Mr. Peach will be responsible for leading PHHs rapidly growing Correspondent Lending business and will report directly to George Henley, Ocwens Chief Growth Officer.
  • Mr. Peach joins PHH from Mr. Cooper, where he was Senior Vice President, Correspondent Sales.
  • 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.
  • PHH Mortgage is one of the largest servicers in the country, focused on delivering a variety of servicing and lending programs.

Rushmore Loan Management Services Receives Fannie Mae's STAR Performer Award

Retrieved on: 
Tuesday, March 16, 2021

Rushmore Loan Management Services (Rushmore) has maintained the Fannie Mae Servicer Total Achievement and Rewards (STAR) Performer award for 2020.

Key Points: 
  • Rushmore Loan Management Services (Rushmore) has maintained the Fannie Mae Servicer Total Achievement and Rewards (STAR) Performer award for 2020.
  • The STAR designation is a mark of quality within the mortgage loan servicing industry.
  • Fannie Mae measures servicers performance using metrics to compare against the performance of other Fannie Mae loans with similar credit characteristics.
  • Rushmore Loan Management Services LLC is a residential mortgage servicer and originator with services that include special servicing and prime sub-servicing, correspondent lending, and property disposition.

1.8 Million May Lose Their Home: Why Forbearance is a Temporary Fix for America's Backlog of Foreclosures

Retrieved on: 
Tuesday, March 16, 2021

Forbearance is when a homeowner's mortgage servicer or lender permits them to freeze their mortgage payments for a certain amount of time due to a financial situation.

Key Points: 
  • Forbearance is when a homeowner's mortgage servicer or lender permits them to freeze their mortgage payments for a certain amount of time due to a financial situation.
  • Today, 1 in 5 renters are behind on rent and just over 10 million homeowners are behind on mortgage payments.
  • For the 2.7 million homeowners who were already facing financial struggles at the beginning of the pandemic last year and the 2.1 million currently facing mortgage delinquencies, forbearance is a temporary sigh of relief.
  • However, once forbearance comes to an end, some homeowner's financial situation may not be resolved.

25 FICS® Customers Featured in Mortgage Bankers Association’s 2020 Year-End Rankings of Top Commercial/Multifamily Servicers

Retrieved on: 
Tuesday, March 16, 2021

FICS Commercial Servicer plays a significant role in helping the customers included in the rankings manage their commercial loan portfolios.

Key Points: 
  • FICS Commercial Servicer plays a significant role in helping the customers included in the rankings manage their commercial loan portfolios.
  • The inclusion of FICS customers in 14 of the 17 categories in these rankings reflects the confidence our customers have in FICS solutions meeting their needs.
  • The 25 FICS customers featured in this years MBA year-end rankings validate that our software provides the functionality servicers need to achieve the level of business success they expect.
  • FICS is a leading mortgage software company specializing in flexible, cost-effective, in-house mortgage loan origination, residential mortgage servicing and commercial mortgage servicing software for mortgage lenders, housing agencies, banks, and credit unions.

PHH Mortgage Renews Partnership With the NAACP to Help COVID-19 Impacted Homeowners Through Virtual Borrower Outreach Series

The virtual events provide attendees with information regarding mortgage assistance options and feature speakers from a local HUD-certified counseling agency and PHH Mortgage.

Key Points: 
  • The virtual events provide attendees with information regarding mortgage assistance options and feature speakers from a local HUD-certified counseling agency and PHH Mortgage.
  • PHH Mortgage remains committed to assisting struggling homeowners by creating positive outcomes for its customers, particularly those who have been financially impacted by COVID-19.
  • PHH Mortgage has provided more than 190,000 customers with mortgage forbearance due to financial hardships related to the COVID-19 pandemic.
  • 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.

Fannie Mae Recognizes 31 Mortgage Servicing Partners for Operational Excellence, Customer Value

Retrieved on: 
Thursday, March 4, 2021

WASHINGTON, March 4, 2021 /PRNewswire/ --Fannie Mae (OTCQB: FNMA) today announced the 2020 Servicer Total Achievement and Rewards (STAR) Program results, which recognized 31 mortgage servicers for operational servicing excellence and customer value.

Key Points: 
  • WASHINGTON, March 4, 2021 /PRNewswire/ --Fannie Mae (OTCQB: FNMA) today announced the 2020 Servicer Total Achievement and Rewards (STAR) Program results, which recognized 31 mortgage servicers for operational servicing excellence and customer value.
  • Established in 2011, the STAR Program awards assess Fannie Mae servicers based on three operational and performance areas: general servicing, solution delivery, and timeline management.
  • "It's an honor to recognize 31 of our servicing partners as 2020 STAR Program award recipients for their respective commitments to customer service and industry best practices," said Malloy Evans, Senior Vice President and Single-Family Chief Credit Officer, Fannie Mae.
  • The STAR Program is a framework that measures servicer competency, capacity, and overall performance.

PennyMac Financial Services, Inc. Announces Appointment of President and Chief Mortgage Banking Officer

Retrieved on: 
Wednesday, March 3, 2021

PennyMac Financial Services, Inc. (NYSE: PFSI) today announced the appointment of Doug Jones as President and Chief Mortgage Banking Officer.

Key Points: 
  • PennyMac Financial Services, Inc. (NYSE: PFSI) today announced the appointment of Doug Jones as President and Chief Mortgage Banking Officer.
  • Mr. Jones had previously served as the Companys Senior Managing Director and Chief Mortgage Banking Officer, as well as President of PennyMac Loan Services, the Companys mortgage banking subsidiary.
  • PennyMac Financial Services, Inc. is a specialty financial services firm with a comprehensive mortgage platform and integrated business focused on the production and servicing of U.S. mortgage loans and the management of investments related to the U.S. mortgage market.
  • As of December 31, 2020, PennyMac Financial serviced loans totaling $427 billion in unpaid principal balance, making it a top ten mortgage servicer in the nation.