Servicing

It's not quite too big to fail, but Ocwen is the country's largest servicer of subprime mortgages. So if it were forced to sell itself, or even failed, the transfer of some $410 billion in servicing rights could create havoc in the mortgage market, industry experts said.

Home prices fell slightly in December, keeping values down by more than 10% from the peak reached before the crisis, according to a monthly report from Black Knight Financial Services.

Although the new rules address many of the issues presented by non-borrowing spouses, one of the rules' principal shortcomings is that they do not sufficiently outline the rebalancing of principal that is often required to substitute these new borrowers.

New Residential Investment Corp., a U.S. real estate investment trust, agreed to buy Home Loan Servicing Solutions for about $1.3 billion.

Ocwen Financial has tentatively agreed to sell a mortgage-servicing portfolio on $9.8 billion of loans to Nationstar Mortgage Holdings, and Ocwen hinted that more deals may be in the offing.

A new program in California aims to help low- and moderate-income seniors with reverse mortgages on their homes to avoid foreclosure.

NMN is previewing the upcoming MBA Servicing Conference with a special package of preconvention content. Check out a roundup of links to the coverage.

NMI Holdings, the parent company of National Mortgage Insurance Corp., reported a net loss again in the fourth quarter as it saw growth in new insurance written.

Mortgage professional hiring and new job appointments for the week ending Feb. 20.

California has delivered less than half of $2 billion in federal aid to help victims of the housing crash.