Banker's Toolbox Announces — ACQUISITION OF LOAN LOSS RESERVE POWERHOUSE, MAINSTREET TECHNOLOGIES
Banker's Toolbox, Inc., leaders in compliance solutions for financial institutions, announced the acquisition of Georgia-based MainStreet Technologies (MST). MST is an industry leader in the loan risk management space. This acquisition adds to a strong and growing portfolio of compliance-related solutions and will continue to enhance the value Banker's Toolbox brings to both their customers and the industry. (Read full press release here.)
Q4 mortgage performance improves
The OCC has published the OCC Mortgage Metrics Report, Fourth Quarter 2018, which showed 95.8 percent of mortgages included in the report were current and performing at the end of the quarter, compared to 94.5 percent a year earlier. The report also showed that servicers initiated 29,515 new foreclosures during the fourth quarter of 2018, a 3.5 percent increase from the previous quarter and a 14.5 percent decrease from a year ago. Servicers completed 20,256 mortgage modifications in the fourth quarter of 2018, and 73.2 percent of the modifications reduced borrowers’ monthly payments.