Servicing

Mortgage industry hiring and new job appointments for the week ending Aug. 30.

Independent mortgage bankers reported their highest average profit per loan originated in almost three years, benefiting from a large drop in production expenses, the Mortgage Bankers Association said.

New York State regulators entered into a settlement with a hedge fund in a case of alleged unlicensed and predatory mortgage lending activity by Vision Property Management.

Foreclosure activity fell 21% in July compared to a year ago and rose 6% from June after twelve consecutive months of declines, according to Attom Data Solutions.

Ginnie Mae followed through with plans to look more closely at secured debt ratios in its latest round of new and revised issuer requirements.

Mortgage industry hiring and new job appointments for the week ending Aug. 23.

After trusting a local developer, some living at The Legends subdivision in Old Orchard Beach, Maine, watched in horror as the homes they occupied for years — but hadn't yet closed on — were sold at auction. And that was just the latest shocking twist.

Mortgage debt hit an all-time high, but the share of homeowners with financing has fallen to a low not seen in 13 years, according to the Urban Institute.

Nearly a decade after Troy Wragg's role in a $54 million Ponzi scheme involving green energy and real estate investments in Tennessee was exposed, the former Philadelphia resident was sentenced to 22 years in prison and ordered to pay $54 million in restitution.

Freddie Mac is automating a manual form submission process used to correct post-settlement and real estate owned data, and adding policy changes aimed at accommodating electronic signatures on loss mitigation documents.