Scrap Basel for Servicers' Sake, MBA Chair-Elect Says
The Basel III capital requirements are making it hard for banks to stay in the servicing business, said David Motley, president of Colonial Savings. Their exodus from the market indirectly hurts consumers, he argued.  more »
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Ocwen Financial Corp. reduced its net loss in the fourth quarter, a reflection of the company's efforts to reduce expenses.
Republican lawmakers are citing a recent report that delinquencies rose for loans guaranteed by the Federal Housing Administration as a reason to delay a premium cut, but economists suggest the uptick is related to seasonal issues.
The Consumer Financial Protection Bureau is set to face its first jury trial in April in what is shaping up to be a critical test of the agency's authority.
Nationstar Mortgage Holdings reported significantly higher net income for the fourth quarter, due to improved revenue in its servicing segment.
A Connecticut attorney has admitted he scammed multiple homeowners who were in, or facing, foreclosure by making false promises to buy their homes and pay off their mortgages, according to the U.S. attorney's office.
Charlotte's historic Excelsior Club, a touchstone for generations of African-Americans, faces an uncertain future after foreclosure proceedings began last week.
The quarter-to-quarter increase in the mortgage delinquency rate is nothing to get excited about — yet, said a member of the Mortgage Bankers Association economics team.
New Residential Investment Corp. had net income of $225 million in the fourth quarter, more than double the $103 million reported for the same period in 2015.
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