More than half of borrowers with home equity lines of credit that will reset this year have seriously underwater properties, and that risk is likely to grow further next year.
The Federal Housing Finance Agency won't keep renewing initiatives like the Home Affordable Refinance Program in perpetuity, even if it is extended again before it expires in December, Director Mel Watt said Wednesday.
Some newcomers to mortgage servicing did not hedge because hedging would have increased costs. Had rates moved up, the strategy would have paid off handsomely. Instead, it worked against them.
KeyCorp has named Mark Danahy president of its mortgage operations. Danahy had been managing director of Citigroup's U.S. mortgage operation from July 2011 to May 2014 and, before that, was president and chief executive of PHH Mortgage.
Two years after Citigroup was punished for widespread foreclosure abuses, the bank is dealing with another misstep: Thousands of people who were entitled to settlement checks never got any money.
Illinois formally announced the successor to its wildly popular Welcome Home Illinois home purchase program, and this time, repeat buyers and homeowners seeking to refinance their mortgages may be eligible for the loans.
JPMorgan Chase has agreed to a $50.4 million settlement with the Justice Department for robo-signing documents sent to homeowners in bankruptcy and for related abuses.
Homes sales in the San Fernando Valley sank to a record low in January as the market slump intensified in the face of rising prices and continued tight inventory, according to a trade association.
The Federal Deposit Insurance Corp. has accepted Banco Popular de Puerto Rico's bid to purchase mortgage servicing rights held by shuttered Doral Bank.
The Federal Housing Finance Agency released a set of new rules for the sale of troubled mortgages by Fannie Mae and Freddie Mac.
The great American refinancing boom of 2015 is turning out to be greatly exaggerated.
The 25-unit apartment building that hugs a corner in Chicago's West Garfield Park neighborhood failed almost 50 inspections during a nine-year period. In late January, the building and its owner landed on the city's first list of "problem" landlords.
Five years ago, at the height of the Great Recession, Vicki Misenheimer received a seemingly innocent call from her boss that would change the direction of her life.
Embattled mortgage servicer Ocwen Financial faces up to $26 billion in damage claims by bondholders and a greater risk of being fired as a mortgage servicer on thousands of small, private-label trusts.
Ocwen Financial Corp., the mortgage servicer under attack for its handling of home loans, slumped the most in more than a month after receiving notices that it was being fired from overseeing debt backing two bond deals.