Servicing

Steeper rate declines contributed to a deeper quarterly net loss at Ocwen Financial, forcing it to extend its timeline for returning to profitability.

Mortgages auctioned off through a HUD distressed loan sale program perform worse than those unsold and are more likely to result in foreclosure, according to a new Government Accountability Office report.

Freedom Mortgage's planned purchase of J.G. Wentworth Home Lending would add 570 employees and 35 offices across 46 licensed states and increase the acquirer's servicing portfolio by $6 billion.

A Sacramento CEO has pleaded guilty to embezzling funds from his employees' pensions, according to the U.S. Attorney for the Eastern District of California.

Mortgage industry hiring and new job appointments for the week ending Aug. 2.

Mortgage servicer customer satisfaction levels are among the lowest of any industry as more companies prioritize cost-cutting, regulation and default management over their borrowers, according to J.D. Power.

Mr. Cooper Group reported a second-quarter net loss of $87 million as the company took a $231 million fair value hit to its mortgage servicing rights portfolio.

Mortgage servicers are getting better at helping borrowers avoid foreclosure, as evidenced by a declining auction rate, which was also supported by healthy home equity levels, according to Auction.com.

New Residential Investment Corp. took a $32 million net loss in the second quarter as it diversified its business lines and repositioned to protect its mortgage servicing rights from falling rates.

Removing Federal Housing Administration-insured mortgages with natural-disaster forbearance from the agency's delinquency tracking database would give investors a less-distorted view of loan performance, according to the Community Home Lenders Association.