Servicing

The Department of Banking and Insurance in New Jersey is warning that enforcement of a 2019 residential mortgage servicer licensing law will begin next year.

A trade group is looking into why New York Gov. Andrew Cuomo felt foreclosure risks were too high to sign a bill that would have approved reverse mortgages for cooperative properties.

A report from the Financial Stability Oversight Council cited a bigger share of originations and servicing by nonbanks as a potential vulnerability in the financial system.

According to Moody's, Ally's latest auto-loan ABS will not require the issuer to repurchase loans with modified terms or maturities.

The nonbank share of large mortgage servicing is growing, but smaller players tend to be depositories, the Consumer Financial Protection Bureau found in a new report aimed at examining regulatory impacts.

Nationstar’s next securitization of defaulted or inactive home equity conversion mortgages will have a higher-than-average exposure to properties with steep leverage, as well as ties to judicial foreclosure states.

The share of severely underwater mortgages shrunk by over two percentage points compared with a year ago, as these borrowers benefited from the rise in equity levels, Attom Data Solutions said.

The San Francisco fintech company has agreed to pay a $110,000 fine for failing to comply with a 2017 state law that requires mortgage servicers to be licensed.

A risk management model revision that decreased single-family loan-loss allowances and a strong mortgage lending environment contributed to consistent earnings results at Fannie Mae in the third quarter.

The outlook for hotels and suburban offices is still questionable, but the prognosis for other property types in the securitized commercial real estate market remains fairly strong, according to Moody's Investors Service.