Servicing

The Department of Housing and Urban Development issued a proposal Wednesday to codify recent changes to its reverse mortgage program and to provide additional protections for seniors, including a cap on annual interest rate increases.

Radian Group, the second-largest U.S. mortgage insurer, said Chief Executive Officer S.A. Ibrahim will step down at the end of next year after steering the company through the financial crisis as weaker rivals collapsed.

Ditech Financial will shift a St. Louis-area servicing platform to start doing new loan originations during the third quarter.

Freddie Mac is auctioning off $135 million in nonperforming residential whole loans.

A subsidiary of Goldman Sachs was the winner for all four pools in Fannie Mae's latest nonperforming loan sale.

Mortgage professional hiring and new job appointments for the week ending May 13.

Foreclosures continued to decrease in the first quarter, while delinquencies remained flat from the previous quarter, according to the Mortgage Bankers Association.

Stonegate Mortgage Corp. expanded its loss year-over-year following a decline in mortgage servicing rights assets.

American International Group's mortgage insurance business has secured indemnity reinsurance coverage for a portfolio of policies from 2008 and earlier.

The number of homes at some stage in the foreclosure process dropped in March to its lowest level since October 2007, according to CoreLogic.