Servicing

The first-quarter loss ended a two-quarter profitability streak the company hoped to maintain.

A Rapid City, S.D., real estate agent must serve more than a year in prison and pay $124,645 in restitution after pleading guilty to tax evasion.

The Consumer Financial Protection Bureau's chief operating officer will take a similar position at the Federal Housing Finance Agency, fulfilling one of the multiple recruiting goals the FHFA announced in January.

The government-sponsored enterprises are focusing on how loans can be repaid after the federal forbearance period ends, and projections for loan modification volumes suggest the larger industry should, too.

Refinancing drove a 75% year-over-year increase in mortgage banking revenue during the first quarter at Flagstar Bancorp as it shored up its operations to avoid other negative repercussions from the coronavirus.

The number of loans in forbearance increased by a full percentage point over the past week, according to the Mortgage Bankers Association.

The FHFA's director said the announcement is meant to “combat ongoing misinformation” about efforts to let homeowners skip mortgage payments due to the coronavirus pandemic.

The bureau said it began developing the standards before the coronavirus pandemic. But more transfers may occur as some servicers struggle to meet their obligations during the economic downturn.

FHFA Director Mark Calabria stated that he was directing the GSEs to "add liquidity" to the markets, but the actions of the FHFA say precisely the opposite.

The Treasury secretary said recent government moves will help the firms get through the risk of millions of borrowers missing their loan payments.