Servicing

The Homes.com Rebound Report for May finds there are now 19 markets defined as “fully recovered” compared with 14 in April.

Wells Fargo has pledged $4.8 million for eligible borrowers who will purchase a home during one of the August homebuyer events scheduled in California’s Inland Empire.

There has never been a time in recent memory that the mortgage business has been crippled by excessive regulation, but that could change.

Michigan Legal Services and five African-American homeowners in Detroit claimed to be victims of Morgan Stanley’s practice of purchasing and financing predatory mortgages, which were later bundled into mortgage-backed securities.

This action by the CFPB will likely spur additional complaints by other regulators and borrowers against other companies.

The Federal Housing Finance Agency reported that GSE refinancings fell nearly 10% from April to May and Home Affordable Refinance Program refis fell by 20%.

Wells Fargo is withdrawing from the eight joint ventures it has in the mortgage lending business.

The Mortgage Bankers Association said it expects originations in the second half of the year to total $606 billion, up from the $527 billion it had forecast at the beginning of the year.

When Radian Group sold shares in 2010 to bolster capital, the buyers lost more than a third of their investment in just two months.

There were 13 of 17 Mortgage Industry Equity Composite members which closed higher on Thursday.