Tag Archives: loan servicing

Ocwen agrees to settle decade-long suit over BPO, valuation fees

By | | Uncategorized
Comments Off on Ocwen agrees to settle decade-long suit over BPO, valuation fees

Up to 330,377 homeowners from whom Ocwen collected mortgage payments could be eligible to claim refunds of $60 per broker price opinion and $70 per hybrid valuation Continue reading →

Mr. Cooper now collects payments on $1T in mortgages amid big Q4

By | | Uncategorized
Comments Off on Mr. Cooper now collects payments on $1T in mortgages amid big Q4

Investors pushed shares in the Dallas-based mortgage loan servicer to a new high on Friday as executives in a Q4 earnings call said they’ll keep investing in technology that boosts efficiency. Continue reading →

Mr. Cooper: Hackers got personal info on past and present customers

By | | Uncategorized
Comments Off on Mr. Cooper: Hackers got personal info on past and present customers

Loan servicing giant Mr. Cooper, which is facing multiple lawsuits over a recent cybersecurity breach, will provide two years of identity protection services and credit monitoring to all current and former customers. Continue reading →

Mr. Cooper back online after ‘precautionary’ 4-day shutdown

By | | Uncategorized
Comments Off on Mr. Cooper back online after ‘precautionary’ 4-day shutdown

More than 4 million homeowners send their mortgage payments to Mr. Cooper, but it’s unclear how many had their data exposed as the company continues to investigate a breach discovered on Halloween. Continue reading →

Constellation Software handed the keys to Empower, Optimal Blue

By | | Uncategorized
Comments Off on Constellation Software handed the keys to Empower, Optimal Blue

To satisfy antitrust regulators, ICE divests itself of Black Knight’s loan origination and mortgage pricing businesses, but gets access to mortgage loan servicers and MLSs in $11.9 billion merger. Continue reading →

Audits find fault with help provided to FHA borrowers during pandemic

By | | Uncategorized
Comments Off on Audits find fault with help provided to FHA borrowers during pandemic

Loan servicer Mr. Cooper is ‘deeply disappointed’ that the HUD OIG audit focused on problems it says were mostly technical, rather than on borrower outcomes. Continue reading →

Regulators are tracking complaints about ‘deficient’ financial chatbots

By | | Uncategorized
Comments Off on Regulators are tracking complaints about ‘deficient’ financial chatbots

The Consumer Financial Protection Bureau warns of reputational and legal risks of relying on “deficient chatbots” as the primary mode of interacting with customers. Continue reading →

Mr. Cooper closing in on $1T portfolio with Home Point deal

By | | Uncategorized
Comments Off on Mr. Cooper closing in on $1T portfolio with Home Point deal

After selling off originations businesses and laying off thousands, Home Point will sell $84 billion in mortgage servicing rights for $324 million in cash. Continue reading →

Mr. Cooper says it will use AI to service $1 trillion in mortgage loans

By | | Uncategorized
Comments Off on Mr. Cooper says it will use AI to service $1 trillion in mortgage loans

The loan servicer spends “several hundred million dollars a year” on call center operations and expects $50 million in annual savings at the outset of a ‘multiyear’ artificial intelligence project. Continue reading →