Servicing

The decline in foreclosures and short sales is contributing to the dearth of housing inventory, complicating the prospects for home buyers feeling the pinch of tight credit and lenders that need purchase mortgages to supplant refinancing once interest rates rise.

California Gov. Jerry Brown violated state law by diverting more than $331 million in mortgage settlement funds for uses unrelated to housing, a Superior Court judge ruled.

A new Department of Housing and Urban Development policy will make it easier for servicers to transfer certain reverse mortgages back to HUD instead of foreclosing on widowed nonborrower spouses.

Mortgage professional hiring and new job appointments for the week ending June 12.

Transactions involving residential mortgage-backed securities should include a manager to improve accountability, Fitch Ratings has recommended.

A decade after home sales peaked, 15.4% of owners in the first quarter owed more on their mortgages than their properties were worth.

Department of Housing and Urban Development Secretary Julian Castro touted the Federal Housing Administration’s recent improvement on Thursday, saying it was on a trajectory to hit its statutory minimum and had recently seen a "significant uptick in refinancings."

Ocwen Financial's sale of mortgage-servicing rights should generate sufficient liquidity for the Atlanta company to meet its debt-payment obligations, Moody's Investors Service said.

New York's highest court may have shut the door to many future lawsuits over flawed mortgage bonds, ruling investors have six years from the day the deal closed to pursue remedies.

The number of vacant and abandoned properties that are in foreclosure decreased in the second quarter, according to a RealtyTrac report.