Servicing

Bank of America has paid more than $2.1 billion in consumer relief in the second quarter, making strides in paying the mortgage crisis-related penalties imposed by the Justice Department, an independent monitor announced Tuesday.

Cherry Hill Mortgage Investment Corp. has purchased its first mortgage servicing rights portfolio, with an aggregate unpaid principal balance of roughly $1.4 billion.

Bank of America has agreed to pay $335 million to settle a lawsuit claiming it misled shareholders about risky mortgages and its dependence on the electronic mortgage registry known as MERS.

Defaults on commercial mortgage-backed securities declined from the end of the third quarter, compared to the previous quarter, according to Fitch Ratings.

Mortgage professional hiring and new job appointments for the week ending Oct. 30.

A Georgia real estate investor pleaded guilty this week to property bid rigging and mail fraud, according to the Federal Bureau of Investigation's Atlanta division.

California’s Richmond Community Foundation will pursue a new social impact bond vehicle with a $3 million revenue bond private placement it hopes to close next month with the local Mechanics Bank.

A major investor in insurance giant American International Group is calling on the company to break itself up into three companies to get out from under its designation as one of only four systemically risky nonbanks.

BOK Financial reported a small drop in third-quarter profit, as a decline in the value of mortgage servicing rights offset loan and fee income growth.

Radian Group's private mortgage insurance subsidiary pulled back from certain pricing discounts that have driven competition in recent months in that business.