Insurer MGIC, which provides mortgage insurance through its principal subsidiary Mortgage Guaranty Insurance Corp., saw its stock rise 2 percent in morning trading after Keefe, Bruyette & Woods (KBW) analysts gave the company a vote of confidence in a new report. KBW raised MGIC to “outperform” from market perform on Monday.
Read More »Numbers Don’t Lie: Complaints to the CFPB May Not Be What They Seem
In fact, the industry discovered that simply analyzing data from the CFPB is not enough, especially since the database arrives with its own built-in bias—that bias being the very nature of the database itself. It collects complaints, not praises, and ignores the larger universe of loans serviced nationwide. To fill the void of well-rounded data, Black Knight Financial Services and the Five Star Institute jumped into the missing space and used data from the CFPB database and its own analytics to inform its latest white paper on CFPB complaints. This select print feature originally appeared in the May 2015 issue of DS News magazine.
Read More »Foreclosure Prevention Bill Passes California Senate
The California Mortgage Bankers Association applauded the state Senate’s passage of Bill 1137 on Wednesday. The bill, which passed the House in late June, is designed to give distressed borrowers more protection by giving those in trouble more notice before eviction—namely 60 days rather than 30 days.
Read More »U.S. Conference of Mayors: Congress Should Help Neighborhoods Blighted by Forecl
The U.S. Conference of Mayors has issued a statement to U.S. Congress saying the conference supports H.R. 3221—a comprehensive housing bill that will fund $300 billion in FHA-insured loans to help American families—as long as the bill continues to include a provision that will supply $4 billion in funding for cities to reform neighborhoods affected by decaying foreclosures.
Read More »PMH Financial Hires VP of Business Development
Colorado-based PMH Financial, an REO management and disposition platform, has hired former Citi Residential Lending Senior Vice President of REO Curt Christensen as vice president of business development.
Read More »FIS Foreclosure Solutions Attorney Summit: And The Winners Are?
The 7th Annual FIS Foreclosure Solutions Attorney Summit recently recognized dozens of law firms for their exceptional performance during the past 12 months. Each firm on the list is recognized for providing excellent service in their state.
Read More »Barrett, Daffin, Frappier, Turner & Engel Completes 10,000 Loan Mods
%{=FONT-SIZE: 10pt}Addison, Texas-based law firm Barrett, Daffin, Frappier, Turner & Engel said Tuesday that the firm has helped 10,000 homeowners remain in their homes since November of last year.
Read More »HOPE NOW: 1.7 Million Workouts on Loans Since July 2007
HOPE NOW national alliance of mortgage servicers, counselors and investors created to help borrowers work out their troubled loans—announced Wednesday that the organization managed to aid approximately 170,000 homeowners in May of 2008 and is on pace to help 519,000 distressed borrowers in the second half of this year.
Read More »Moody?s Takes Action Against Employees Over Ratings
At a time when credit rating agencies are searching for ways to improve the credit rating process and restore market confidence, Moody’s Investors Service announced Wednesday that the company has launched disciplinary proceedings against several employees who allegedly issued flawed ratings on 11 European CPDOs.
Read More »15,000 Z57 Agents Benefit from Foreclosure.com Partnership
Foreclosure.com has established a partnership with real estate Internet marketing company Z57 Internet Solutions to help 15,000 Realtors achieve immediate access to comprehensive foreclosure listings. The partnership benefits both Foreclosure.
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