Servicing

Ginnie Mae President Ted Tozer is urging credit unions and community banks to contact their Federal Home Loan Bank so they can participate in a conduit program for government-backed loans.

Fitch Ratings has downgraded the U.S. residential mortgage servicer rating of EverBank Financial in Jacksonville, Fla., despite servicing-operations changes that are expected to improve its performance.

The delinquency rate for commercial mortgage-backed securities remained stable last month, according to data from Fitch Ratings.

American Homes 4 Rent in Agoura Hills, Calif., expects to raise about $488 million from the sale of rental revenue backed securities.

While year-over-year foreclosure activity continued to decline in August, an uptick in foreclosure auctions suggest the housing market still is in detox mode, according to RealtyTrac.

PennyMac became the third largest correspondent aggregator after banks turned their back on the mortgage origination channel. With banks now increasingly shedding servicing rights, PennyMac is poised to make a similar play in servicing.

Common sense underwriting, a regulatory system that abides by contract law, and borrowers who consider homeownership a privilege, not an entitlement, make Canada perfect for private -label residential mortgage-backed securities.

Mortgage technology provider Altisource has added a new compliance feature to Equator, its mortgage-servicing software.

Assure360, a mortgage technology company in Carrollton, Texas, said on Wednesday that it was recently acquired by ARMA Acquisition, an investment firm in Chicago.

The draft released by the top Financial Services Committee Democrat would remove adverse information from credit reports and require consumer data furnishers to retain records.