Predatory mortgage servicing

Freddie Mac Announces Pricing of $382 Million Multifamily Small Balance Loan Securitization

Retrieved on: 
Friday, July 16, 2021

Freddie Mac is also acting as mortgage loan seller and master servicer to the trust.

Key Points: 
  • Freddie Mac is also acting as mortgage loan seller and master servicer to the trust.
  • In addition to the five classes of securities guaranteed by Freddie Mac, the trust will issue certificates consisting of Class B and Class R Certificates, which will not be guaranteed by Freddie Mac and will be sold to private investors.
  • Freddie Mac has a specialty network of Optigo Seller/Servicers and Optigo SBL lenders with extensive experience in this market who source loans across the country.
  • Freddie Mac undertakes no obligation, and disclaims any duty, to update any of the information in those documents.

Fortress Announces Agreement to Sell Specialty Mortgage Lender and Servicer, Foundation Home Loans

Retrieved on: 
Thursday, July 15, 2021

Fortress Investment Group LLC (Fortress) today announced an agreement to sell Foundation Home Loans, the UK specialist mortgage lender and servicer, to Athene Holding Ltd., an industry-leading financial services company focused on retirement savings solutions.

Key Points: 
  • Fortress Investment Group LLC (Fortress) today announced an agreement to sell Foundation Home Loans, the UK specialist mortgage lender and servicer, to Athene Holding Ltd., an industry-leading financial services company focused on retirement savings solutions.
  • Foundation Home Loans (the trading brand of Paratus AMC Limited) is one of the best-known names in the European mortgage lending, servicing and securitization markets.
  • Since relaunching lending, Foundation Home Loans has originated over 2.5bn of mortgage loans, including over 500m in the first half of this year.
  • By June 2021, Foundation Home Loans held mortgage loans in excess of 3bn on its balance sheet and serviced an additional 930,000,000 for a total assets under management balance of nearly 4bn.

Freddie Mac Announces Pricing of $385 Million Multifamily Small Balance Loan Securitization

Retrieved on: 
Friday, June 11, 2021

Freddie Mac is also acting as mortgage loan seller and master servicer to the trust.

Key Points: 
  • Freddie Mac is also acting as mortgage loan seller and master servicer to the trust.
  • In addition to the five classes of securities guaranteed by Freddie Mac, the trust will issue certificates consisting of Class B and Class R Certificates, which will not be guaranteed by Freddie Mac and will be sold to private investors.
  • Freddie Mac has a specialty network of Optigo Seller/Servicers and Optigo SBL lenders with extensive experience in this market who source loans across the country.
  • Freddie Mac undertakes no obligation, and disclaims any duty, to update any of the information in those documents.

Brace’s Embedded Digital Mortgage Servicing Experience Delivers Results Ahead of Expected Surge in Demand

Retrieved on: 
Wednesday, June 9, 2021

Brace , a modern, cloud-based mortgage servicing experience, is leading the digital transformation through its streamlined solutions.

Key Points: 
  • Brace , a modern, cloud-based mortgage servicing experience, is leading the digital transformation through its streamlined solutions.
  • Driven by consumer demand and accelerated by COVID-19, the mortgage origination industry saw a large increase in the adoption of digital solutions.
  • This need for digital transparency, both for purchase and refinance home loans, and ease of use is now quickly moving into mortgage servicing.
  • Process digitization will enable servicers to reduce paperwork and simplify the process for a better, faster consumer experience.

MGIC Investment Corporation Releases Monthly Operating Statistics

Retrieved on: 
Monday, June 7, 2021

MILWAUKEE, June 7, 2021 /PRNewswire/ -- MGIC Investment Corporation (NYSE: MTG) today issued an Operational Summary of the primary mortgage insurance of its insurance subsidiaries for the month of May 2021.The summary is also available on the company's investor website under Newsroom, Press Releases .

Key Points: 
  • MILWAUKEE, June 7, 2021 /PRNewswire/ -- MGIC Investment Corporation (NYSE: MTG) today issued an Operational Summary of the primary mortgage insurance of its insurance subsidiaries for the month of May 2021.The summary is also available on the company's investor website under Newsroom, Press Releases .
  • The information concerning new delinquency notices and cures is compiled from reports received from loan servicers.
  • The level of new notice and cure activity reported in a particular month can be influenced by, among other things, the date on which a servicer generates its report, the accuracy of the data provided by servicers, the number of business days in a month, transfers of servicing between loan servicers, and whether all servicers have provided the reports in a given month.
  • Notices of delinquency are typically reported to us when loans are two payments past due (for example, for May we report as a new delinquency any delinquent loan that missed its April 1st (or earlier) payment that was not previously reported to us).

Freddie Mac Announces Pricing of $372 Million Multifamily Small Balance Loan Securitization

Retrieved on: 
Friday, May 14, 2021

Freddie Mac is also acting as mortgage loan seller and master servicer to the trust.

Key Points: 
  • Freddie Mac is also acting as mortgage loan seller and master servicer to the trust.
  • Freddie Mac has a specialty network of Optigo Seller/Servicers and Optigo SBL lenders with extensive experience in this market who source loans across the country.\nThis announcement is not an offer to sell any Freddie Mac securities.
  • Freddie Mac undertakes no obligation, and disclaims any duty, to update any of the information in those documents.\nFreddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders.
  • Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac\xe2\x80\x99s blog FreddieMac.com/blog .\n'

ABS Announces The Mortgage Office® and Filogix integration

Retrieved on: 
Monday, April 26, 2021

b'LONG BEACH, Calif., April 26, 2021 /PRNewswire/ --Applied Business Software, the leader in loan administration, mortgage investment corporation (MIC), and origination software in the private lending industry, announced today the integration with Filogix Marketplace and The Mortgage Office Web Portal.\nThe Mortgage Office will integrate with Filogix, a Finastra company, to provide a platform for brokers using the Filogix Marketplace to securely issue credit bureaus and loan applications directly to lenders utilizing The Mortgage Office.

Key Points: 
  • b'LONG BEACH, Calif., April 26, 2021 /PRNewswire/ --Applied Business Software, the leader in loan administration, mortgage investment corporation (MIC), and origination software in the private lending industry, announced today the integration with Filogix Marketplace and The Mortgage Office Web Portal.\nThe Mortgage Office will integrate with Filogix, a Finastra company, to provide a platform for brokers using the Filogix Marketplace to securely issue credit bureaus and loan applications directly to lenders utilizing The Mortgage Office.
  • Lenders will also easily import these deals into The Mortgage Office with a couple of clicks and will not have to pay added bps, setup fees, or per-transaction fees.\nRichard Clark, VP of Filogix: "We are happy to announce that The Mortgage Office has joined the Filogix Mortgage Marketplace as a provider of private lending solutions.
  • This is a valuable partnership for Filogix, as we continue to strengthen our marketplace by connecting lenders, partners, and mortgage professionals, enabling greater data efficiency and security of information.
  • "\nCarlos Nodarse, CEO of ABS: "Seamless integration, protection of personal information, and customer ease of use are at the core of every advancement.

Freddie Mac Announces Pricing of $384 Million Multifamily Small Balance Loan Securitization

Retrieved on: 
Wednesday, April 21, 2021

Freddie Mac is also acting as mortgage loan seller and master servicer to the trust.

Key Points: 
  • Freddie Mac is also acting as mortgage loan seller and master servicer to the trust.
  • Freddie Mac has a specialty network of Optigo Seller/Servicers and Optigo SBL lenders with extensive experience in this market who source loans across the country.\nThis announcement is not an offer to sell any Freddie Mac securities.
  • Freddie Mac undertakes no obligation, and disclaims any duty, to update any of the information in those documents.\nFreddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders.
  • Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac\xe2\x80\x99s blog FreddieMac.com/blog .\n'

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.

Freddie Mac Announces Pricing of $362 Million Multifamily Small Balance Loan Securitization

Retrieved on: 
Friday, March 12, 2021

Freddie Mac is also acting as mortgage loan seller and master servicer to the trust.

Key Points: 
  • Freddie Mac is also acting as mortgage loan seller and master servicer to the trust.
  • In addition to the four classes of securities guaranteed by Freddie Mac, the trust will issue certificates consisting of Class B and Class R Certificates, which will not be guaranteed by Freddie Mac and will be sold to private investors.
  • Freddie Mac has a specialty network of Optigo Seller/Servicers and Optigo SBL lenders with extensive experience in this market who source loans across the country.
  • Freddie Mac undertakes no obligation, and disclaims any duty, to update any of the information in those documents.