Servicing

Fannie Mae has completed its latest Credit Insurance Risk Transfer transaction, the 10th deal since the program's inception in 2013.

Its results were affected by the costs related to shutting the delinquent loan services business.

The statute of limitations on private lawsuits against trustees and servicers of housing bubble-era residential mortgage-backed securities could run out in a few years.

Its first-quarter earnings fell nearly 50%, to $69 million, as revenue declined and it took a $13 million loss on debt repurchases.

Freedom Mortgage has agreed to pay $113 million to settle government allegations that it failed to comply with Federal Housing Administration requirements for originating and servicing FHA-insured loans.

Mortgage professional hiring and new job appointments for the week ending April 15.

First Horizon National in Memphis reported improved quarterly earnings that reflected higher revenue.

Even while FHFA finally embarked on a principal reduction plan, critics argued it was a dangerous idea that made Fannie Mae and Freddie Mac less safe while helping relatively few people.

PNC Financial Services said its residential mortgage business lost $13 million in the first quarter due to its servicing portfolio hedging activities and lower loan sales income.

FHFA Director Mel Watt acknowledged that the principal reduction program may seem "too small and too late."