Servicing

Since PHH is now a pure-play mortgage company, it made sense to have just one executive running the business, industry experts said.

Regions Bank in Birmingham, Ala. has been approved as a Fannie Mae Delegated Underwriting and Servicing multifamily lender and acquired the servicing on a $1 billion Fannie apartment loan portfolio.

The Federal Housing Administration is revamping its loan review processes to correct faulty underwriting in an effort to lure institutions back to the program.

The online ballot is now open for mortgage lender and servicing professionals to vote for their favorite technology and services vendors.

MGIC Investment Corp. promoted Patrick Sinks to chief executive officer as the mortgage insurer looks for ways to raise capital to meet new industry standards proposed by a U.S. regulator.

The official in charge of monitoring JPMorgan Chase's $13 billion settlement with bank regulators released his initial progress report this week.

The Federal Housing Administration is working to revamp its loan quality review program so that lenders will gain confidence in originating more single-family loans backed by the agency.

A continued but modest rebound in the housing market and overall economy during the second half of 2014 are not likely to offset the sluggish pace of activity during the first two quarters of the year.

Two federal agencies and 15 states have taken more than 40 actions against foreclosure relief operations, alleging the firms charged distressed borrowers millions of dollars in fees without following through on service.

Foreclosure inventory fell to its lowest level in more than six years in June, according to a report from Black Knight Financial Services.