Servicing

There were more than a million homeowners whose properties exited negative equity status over the past year, with the potential for another million to do so if home prices continue to rise, according to CoreLogic.

While negative equity rates continue to drop nationally from their 2012 peak, the share of homeowners underwater in the Rust Belt remains elevated, according to Zillow.

Without the Consumer Financial Protection Bureau setting specific debt collection guidelines — including what technology agencies can use — the industry will continue a practice that harms consumers: lawsuits.

BentleyForbes once owned such renowned properties as the Watergate in Washington and Bank of America Plaza, Atlanta's tallest skyscraper. Now the company is on the verge of vanishing.

The Mortgage Industry Standards Maintenance Organization plans to simplify its membership structure, the Mortgage Bankers Association said.

Bank of America will move its mortgage servicing back onto Black Knight Financial Services' LoanSphere MSP servicing system of record.

Ocwen Financial Corp. in West Palm Beach, Fla., will lay off 120 employees as part of a plan to reduce costs.

Cash sales are falling overall, but still represent the majority of sales involving homes in the lowest tier of property values, according to Black Knight Financial Services.

MFA Financial has carved out an impressive niche for itself by buying reperforming and nonperforming residential mortgages and securities.

The delinquency rate on the loans included in commercial mortgage-backed securities increased for the third consecutive month in May after significant declines at the start of the year, according to Trepp.