Servicing

UBS Group sold tens of billions of dollars' worth of residential mortgage-backed securities by "knowingly and repeatedly" making false and fraudulent statements to investors about the loans backing those trusts, the U.S. Justice Department said in a civil suit filed Thursday.

Mr. Cooper Group — the new name following the combination of Nationstar Mortgage and WMIH Corp. — posted a $54 million third-quarter profit and announced plans to buy Pacific Union Financial, as well as make other strategic acquisitions.

Ditech Holding Corp.'s stock is being delisted from the New York Stock Exchange, and the company is recommitting itself to finding an acquirer or other option that could improve investor value.

Wells Fargo said Tuesday that an internal error that affected customers requesting mortgage modifications to remain in their homes impacted hundreds more people than the bank initially thought.

A former instructor at the Purvis Real Estate Training Institute in Fort Worth, Texas. was sentenced to 13 years in federal prison for running a Ponzi scheme that robbed investors of more than $1.2 million.

Ocwen Financial Corp. recorded a deeper quarterly loss of $40 million after acquiring PHH Corp., but still expects the deal's economies of scale to eventually lower costs and restore profitability.

While the foreclosure crisis is over and federal regulators are being less assertive on enforcement actions, mortgage servicers must remain vigilant about compliance, as state agencies are stepping up their own oversight, according to Standard & Poor's.

Excellent credit quality and strong performance of post-housing-crisis originations resulted in a steep decline in foreclosure starts in September, according to Black Knight.

Goldman Sachs is getting closer to hitting its $1.8 billion consumer relief obligation as outlined in mortgage settlement agreements between the U.S. Department of Justice and three states.

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