Servicing

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.

FormFree Holdings, a mortgage technology vendor in Atlanta, received a U.S. patent for its automated asset verification system, AccountChek.

California Gov. Jerry Brown signed into law a measure extending state income tax relief to borrowers with canceled or forgiven mortgage debt.

Independent mortgage lenders are concerned that regulators will use the report as an excuse to raise minimum net worth requirements for smaller lenders.

Lower rates of return would require insurers to charge higher premiums or stop covering loans to borrowers with lower credit scores. (You know, the ones the government wants to help?)

Advocates blame the securitization-financed, institutional-scale landlords for astronomical rents and poor maintenance and call for Congressional hearings and government oversight.

Altisource Portfolio Solutions' acquisition of Mortgage Builder Software will close next month, the companies announced Monday, following weeks of rumors but no official confirmation of the deal.

In another reshuffling of its mortgage ranks, Bank of America has promoted D. Steve Boland, who joined the company through the 2008 acquisition of Countrywide Financial, to head residential lending.