News

International Document Services (IDS), a mortgage document preparation vendor operating out of Salt Lake City, has promoted former EVP Mark Mackey to CEO.

Five of the nation's largest mortgage servicers will pay more than $123 million to 952 service members and their co-borrowers as part of a settlement with the U.S. Department of Justice over non-judicial foreclosures that violated the Servicemembers Civil Relief Act (SCRA), according to an announcement from the Justice Department.

Just as they promised when they gained a majority in both the House and Senate in the November elections, Republicans are in talks to chip away at the Dodd-Frank Wall Street Reform and Consumer Protection Act, according to a report from Reuters.

The Consumer Financial Protection Bureau (CFPB) announced on Tuesday it has levied a $2 million civil penalty against Maryland-based nonbank mortgage lender NewDay Financial for deceptive mortgage advertising and kickbacks.

Officials from the Wayne County, Michigan, treasury office assisted more than 4,000 homeowners delinquent on taxes with various plans to avoid foreclosure during the county's recent show cause hearings, according to Wayne County Deputy Treasurer David Szymanski.

A sizable new portfolio of agency mortgage servicing rights (MSR) has come to market with days left to go before bidding ends.

Foreclosures in the United States have been steadily declining for months nearly every way the numbers are broken down, and December was no exception, according to CoreLogic's December 2014 National Foreclosure Report released Tuesday. Foreclosure inventory nationwide dropped in December down to 552,000 from 840,000 in December 2013, a decline of 34.3 percent. As of the end of December 2014, approximately 1.4 percent of all homes with a mortgage were in some state of foreclosure – a decline from 2.1 percent from the previous December. The current foreclosure rate of 1.4 percent is the lowest level since March 2008.

Ohio-based field services provider ZVN Properties has added Hazard Claim services to its suite of offerings, according to an announcement from ZVN Properties CEO Bryan Lysikowski.

New York-based investor Mangrove Partners Master Fund, one of the 10 largest shareholders in Home Loan Servicing Solutions, has delivered a letter to the HLLS Board of Directors with regards to HLSS's relationship to Ocwen Financial Corp., according to an announcement from Mangrove Partners on Monday.

The Federal Reserve Board of Governors and the Office of the Comptroller of the Currency have announced a public meeting for Thursday, February 26, to discuss a proposed merger and acquisitions transaction between two financial holding companies that have experienced their share of financial troubles.