Servicing

The portfolio consists of securitized Fannie Mae loans, of which almost 95% are 30-year and 15-year fixed rate products.

Wells Fargo & Co., the biggest U.S. home lender, agreed to sell about 2% of its residential servicing portfolio, or about 184,000 loans, to Ocwen Financial Corp. as it tests the market.

Findings from the S&P Dow Jones Indices and Experian Consumer Credit Default Indices show mortgage default rates continue to decline at a very slow pace.

December sales decrease in most markets, while price growth tapers to end 2013.

Kevin Stitt remains with Gateway as its chief executive officer, while Patrick McGowan is the new chief financial officer.

Kevin Cordell, U.S. Navy veteran turned investor/servicer, started the habit of assigning a single point of contact to every mortgage transaction regardless of risk years before it was required by law.

Through the end of 2014, the unpaid principal balance for this loan portfolio is a little less than $190,000.

The move will give the company a presence in Texas, where several mortgage servicers and originators are located.

A Santa Clara County Superior Court judge is making three major companies pay approximately $1.1 billion to remediate lead paint used in the interior of homes built before 1978.

But continued weakness among retailers could hurt stabilization down the road, the rating agency says.