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HUD Secretary Ben Carson apparently doesn't know what an REO is

HUD Secretary Ben Carson had a bit of a rough day on Tuesday. Carson appeared on Capitol Hill to testify before the House Financial Services Committee, and during questioning from the committee member with the most housing knowledge, turned himself into a punchline by confusing a common housing industry term with a cookie. Yes, you […]

New York Court approves representation for mortgage borrowers in Ditech bankruptcy

The Bankruptcy Court of the Southern District New York denied Ditech’s motion Friday to dismiss the formation of a consumer committee to protect the interests of mortgage borrowers who have loans with Ditech or its subsidiaries – including those who have reverse mortgages with its subsidiary Reverse Mortgage Solutions – ensuring these borrowers will not […]

Fannie Mae and Freddie Mac are refinancing fewer mortgages than at any point since the crisis

Recently released data from the Federal Reserve Bank of New York’s Center for Microeconomic Data revealed that the first quarter of this year was the mortgage business’ worst quarter in more than four years, but a deeper dive into the data shows that on the refinance side of things, it may have been the worst […]

Celink names Robert Sivori new chairman, CEO

Celink, the largest subservicer of reverse mortgages in the U.S., announced that Robert Sivori will take over as its new chairman and CEO. The HECM industry veteran is credited with building one of the strongest and most robust reverse servicing platforms.

How expertise-on-demand can improve quality control for servicers

Loan servicers have to navigate a continuously changing mortgage landscape. New regulatory requirements, turnover of experienced talent and other factors are all making the mortgage servicing business more turbulent than ever. But perhaps the biggest challenge, especially for small, growing and non-bank servicers, is ensuring that quality control is maintained even when new demands emerge.

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