Servicing

A real estate arm of KeyCorp has agreed to purchase more than $100 billion of servicing rights on commercial and multifamily loans from Bank of America.

CITBA Financial Corp. has agreed to merge with privately held Merchants Bancorp, the owner of multifamily mortgage lender P/R Mortgage & Investment Corp.

Market data including findings from various mortgage delinquency reports are simultaneously pointing to a housing market recovery and emanating uncertainty.

Deutsche Bank AG sued Mexican real estate developer Urbi Desarrollos Urbanos SAB in New York for $61.1 million for defaulting on loans.

There were nine gainers and eight decliners in the Mortgage Industry Equity Composite on Thursday.

The effects of discontinued operations resulted in Impac Mortgage Holdings reporting a 1Q13 loss of $738,000, compared with a 1Q12 loss of $4.8 million.

Timothy Shannahan became the fourth person to admit conspiring with Kathryn Sylvester, the former CEO of Sylvester Financial Inc., to commit mortgage fraud.

First-quarter earnings confirm that recent mortgage servicing portfolio purchases already have and will continue to strengthen the financial performance of Walter Investment Management Corp.

Steve Eisman, who rose to fame betting against subprime mortgages, said investors should buy shares of homebuilders, land and mortgage lenders as the U.S. housing market improves.

The Federal Reserve said some mortgage borrowers who were insufficiently paid as part of a settlement will be sent supplemental checks next week.