Servicing

ReadyCap Lending has acquired CIT Small Business Lending from its parent CIT Group, including $1.3 billion in servicing rights on loans guaranteed by the U.S. Small Business Administration.

Republic Bancorp reported a slight bump in second-profits due to modest loan growth but results were tempered somewhat by a sharp drop in mortgage banking income.

Second-quarter earnings nearly doubled at Home Loan Servicing Solutions, despite a significant jump in operating expenses, as prepayments remained low and the rate of liquidations of seriously delinquent loans recovered.

Wells Fargo & Co. and JPMorgan Chase & Co. , the behemoths of the U.S. mortgage market, are surrendering more business to nonbank lenders.

These investors complain they get little say or direct recompense in government settlements with big banks over misrepresentations of mortgage securities like the Department of Justice's $7 billion deal with Citigroup.

The Senate overwhelmingly passed a bill Thursday to extend the Terrorism Risk Insurance Act, as divisions over a competing measure continue to stymie House leaders.

Nearly five years after Bank of America dumped the Mortgage Servicing Package for technology it obtained in its acquisition of Countrywide, a forlorn Black Knight Financial Services is trying to win back the country's third-largest servicer.

MGIC Investment in Milwaukee reported a nearly fourfold jump in income for the second quarter driven primarily by lower incurred losses as new insurance increased.

Ocwen Financial has created a community advisory council to address the needs of distressed borrowers amid regulatory scrutiny of the mortgage servicer.

Carrington and Selene will take over from Bank of America as subservicers of this storied portfolio, which has atrophied from $26 billion to less than $6 billion.