Mortgage Servicing News

DISCIPLINE: "You can't compete on price in the long term," says Patrick Sinks. "We want to be there when the customer needs us."

Incoming CEO's Challenge at MGIC: Grow Under New Constraints

Patrick Sinks is taking the reins at MGIC as the mortgage insurer faces tougher capital standards and a more competitive field where his company is no longer No. 1.

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B of A Said to Near U.S. Mortgage Accord After Raising Offer

Bank of America Corp. is nearing a settlement with the Justice Department after raising its proposed offer to resolve probes into its sale of mortgage-backed bonds in the run-up to the financial crisis.

CMBS Delinquencies Improve Slightly in July: Trepp

Delinquency rates for commercial mortgage-backed securities improved slightly in July, according to a report released Wednesday by Trepp.

Bank of America’s Countrywide Ordered to Pay $1.3B

Bank of America Corp.'s Countrywide unit was ordered to pay $1.3 billion in penalties for defective mortgage loans sold to Fannie Mae and Freddie Mac in the run-up to the 2008 financial crisis, a little more than half of what the federal government had requested.

House Panel Passes Bill to Ease Capital Requirements on MSRs

The legislation, sponsored by Rep. Blaine Luetkemeyer, R-Mo., would delay implementation of a provision of Basel III capital rules that establishes higher requirements on mortgage servicing rights.

Varde Partners Completes $290 Million Note Issuance

Varde Partners completed the issuance of $290 million in notes secured primarily by real estate loans and assets.

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Freddie's Mortgage Purchases Drop by Nearly Half in June

Independent Bank Profits Plunge as Mortgage Income Drops

An Amazon for Mortgages: Why Altisource Is Buying Mortgage Builder

PHH's CEO Messina Also to Head Mortgage Unit

Regions Bank Joins Fannie Multifamily Program, Acquires Portfolio

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"In some cases, we heard from consumers who said they could not even reach anyone at a company once they had paid the initial fee," said Steve Antonakes, the CFPB's deputy director.

Dozens of Mortgage Relief Firms Cited by CFPB, States Over Mod Scams

Two federal agencies and 15 states have taken more than 40 actions against foreclosure relief operations, alleging the firms charged distressed borrowers millions of dollars in fees without following through on service.

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Housing Groups Criticize Single-Family Rental Investment Firms

Advocates blame the securitization-financed, institutional-scale landlords for astronomical rents and poor maintenance and call for Congressional hearings and government oversight.

Double-Whammy Coming When HELOCs, Loan Mods Reset in 2015

Borrowers with a first-lien modification and home equity line of credit could face a spike in their monthly mortgage obligations when the interest rates on both loans reset next year.

Ocwen Repurchases $72.3M in Stock from WL Ross

Ocwen Financial has repurchased approximately $72.3 million in stock from WL Ross & Co., a private-equity firm in New York.

The Evidence Is Clear: Housing Market Headed Back Downward

With mounting indicators clearly showing that the so-called housing recovery was just an illusion, and many housing industry pundits who formerly touted the validity of said recovery now recanting their views, there should be no doubt that we are headed for another/further housing downturn.