Servicing

The company aims to use the additional capacity to get its non-qualified mortgage business back to producing $125 million per month, and anticipates more purchases of mortgage servicing rights, representatives said in its Q1 earnings call.

The West Palm Beach, Fla.-based lender sees an opportunity for even more growth after its deal to acquire a servicing portfolio from Texas Capital Bank.

The modifiable templates are a follow-up to a similar notification the organization created in 2019 for lender use.

Though the government-sponsored enterprises have some of the lowest forbearance rates in the market, they expect to contend with a significant population of borrowers who face steep financial setbacks after the pandemic ends.

The Consumer Financial Protection Bureau disputes a district court ruling that misconduct claims against the company were already covered by a previous settlement.

The persistently slow reduction in the number of borrowers at risk of default indicates that while loan performance overall is improving, a substantial pool of mortgages will need workouts when forbearance ends.

Also, even with bans in place, the total number of filings keeps inching up due to actions taken on vacant properties.

The diverse group of loans in the servicing rights portfolio offers a potentially attractive recapture opportunity and would be a sizable transaction for their era.

However, the decline in Black Knight’s numbers may stem from a previous deadline that policymakers have since extended.

The consumer bureau is proposing to give companies until January 2022 to comply with one rule regarding communications from collectors and another clarifying disclosure requirements.