Servicing

Late payments on loans securing commercial mortgage-backed securities rose in April as borrowers failed to make balloon payments on maturing loans.

In an attempt to show it went all out to help struggling homeowners, the embattled mortgage servicer Ocwen Financial provided an unusual level of detail about foreclosures it says regulators have deemed "inappropriate."

Mid America Mortgage has purchased a $2.7 billion portfolio of Ginnie Mae mortgage servicing rights that its subservicer, LoanCare, took possession of Tuesday.

In an echo of the rescue deals of 2007 and 2008, New Residential's CEO framed the transaction as something undertaken to benefit the entire industry.

Foreclosure activity continues to subside and most of the regulatory reforms created to protect distressed borrowers have been implemented. Yet mortgage servicers still haven't fully resolved the operational challenges facing their business.

Years after the worst of the housing crisis, states still dealing with high foreclosure activity are weighing laws to speed the process on vacant or abandoned properties.

Mortgage industry hiring and new job appointments for the week ending April 28.

National foreclosure activity is at an 11-year low, but some cities have yet to fully recover.

Bayview Asset Management is marketing another $183 million of bonds backed by reperforming mortgages acquired last year from CitiFinancial Credit Co.

The onslaught of regulatory actions against Ocwen may open the door for Nationstar to pick up a massive subservicing portfolio from the beleaguered servicer.