Servicing

Defects and misrepresentations on mortgage applications rose 2.5% in May, reaching levels last seen in 2015, according to the First American Loan Defect Index

Hawaii continued to see drops near or above 20% in new foreclosure lawsuit filings during March and April, according to the latest data from the state Judiciary.

Seeking to stay below $50 billion, the regional is selling its origination and servicing businesses.

More than $106,000 was transferred into the Cheboygan County, Mich., general fund from the treasurer's office from the sales of tax foreclosures in the county.

Another luxury condo at Manhattan's One57 is scheduled for a foreclosure auction — the second time in a month that a property seizure is being sought at the Billionaires' Row tower following a mortgage default.

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

Mortgage delinquencies declined 7% in May compared with April, a partial recovery from the 13% increase of the previous month.

Defaults on first-lien mortgages fell 5 basis points in May from the previous month, dropping to their lowest level in a year, according to the S&P/Experian Consumer Credit Default Index.

Managing portfolios for an influx of servicing rights investors helps mortgage companies augment revenue and keep rising costs and compliance risks in check.

PHH Corp. completed the sale of its Freddie Mac mortgage servicing rights portfolio to New Residential Corp. for $102 million, but the sale of the Fannie Mae MSRs will take place in the third quarter.