In settling with state regulators, the Miami-based electronic payment processor is looking to close the books on a 2021 test that triggered $2.3 billion in erroneous mortgage payments. Continue reading
Thanks to its Home Point Capital acquisition and other pending transactions, the loan servicing giant delivered upbeat Q2 results Wednesday and expects to hit a $1 trillion target by year’s end. Continue reading
ACI admits no wrongdoing in settling CFPB’s first-ever enforcement action over the handling of consumer data in the processing of mortgage payments. Continue reading
The bulk acquisition of servicing rights to 45,000 Ginnie Mae loans brings Planet’s servicing portfolio to $94 billion, with more purchases eyed for 2023. Continue reading
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
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
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
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
Mortgage veteran Kurt Johnson, who held executive roles at Indymac Bank and OneWest Bank before joining Mr. Cooper in 2015, succeeds Jaime Gow as CFO, it was announced this week. Continue reading
Rising mortgage rates have many lenders looking to sell servicing rights, creating an opportunity for a Dallas-based company that now collects payments on $870 billion in loans. Continue reading