MSP is a comprehensive, end-to-end loan servicing system that encompasses all aspects of servicing, from loan boarding to default. The MSP servicing system will continue to provide First Bank Mortgage with a proven technology that will help the bank increase operational efficiencies and support its efforts to remain compliant with regulatory requirements.
There are many good reasons for the federal government to intervene in the economy, but diverting resources from less affluent first-time home buyers to seniors who already own homes would not be at the top of our list. Nevertheless, that is what the Federal Housing Administration's Home Equity Conversion Mortgage program – commonly known as…
In the Slavic Village neighborhood of Cleveland, Ohio, you can still see the scars of the foreclosure crisis – vacant houses with sagging porches and broken windows, empty lots where houses once stood and a still-thriving demolition business tearing down abandoned homes. The neighborhood, named for its historic population of Central European immigrants, became a…
Motivated by the story of Jacob McGreevey, the longtime Marine who lost his Vancouver home to foreclosure, Rep. Kurt Schrader, D-Oregon, has introduced a bill strengthening active-duty soldiers' protections against banks and other creditors. A New Jersey lender repossessed McGreevey's house in 2010 between his third and fourth tours of duty in the Middle East…
Improving loan performance doesn't make headlines any longer, but worth noting that the improvement is still good news. The Mortgage Bankers Association says the first quarter of 2018 saw even more progress in reducing delinquencies, improvement noted across all categories of distress. Foreclosure News
In 2010, Florida was in the throes of an unprecedented housing crisis. One in every eight homes was in some stage of foreclosure. Foreclosure News
An adjustable-rate mortgage is a home loan that has an initial period with a fixed interest rate followed by periodic rate adjustments. An adjustable-rate mortgage, or ARM, may sound risky. Foreclosure News
