Servicing

A law firm that won an $8.5 billion settlement from Bank of America Corp. tied to faulty mortgage bonds said Wells Fargo and Morgan Stanley failed to service $73 billion of similar securities, creating a default.

Mortgage Builder is set to release the latest version of its loan origination system.

Does a borrower whose mortgage is underwater have an obligation to continue paying their monthly loans if they have the ability to do so? There are different viewpoints to this question.

The overall efficiency of servicers working on delinquent subprime loans improved modestly during the second quarter, reinforcing a recent trend that is likely to continue.

When Fannie Mae agreed to pay Bank of America $512 million to buy the right to administer 384,000 loans last year, members of Congress questioned the size of the payment to the beleaguered servicer.

The Office of the Comptroller of the Currency issued new guidance to federally chartered banks and thrifts that are lending money to investors who buy real estate owned with the idea of turning those units into rentals.

Two Citigroup Inc. executives are departing after federal prosecutors named them earlier this year in a mortgage-insurance fraud case.

New Jersey's judicial review of all foreclosures, which delays seizures to help borrowers, threatens to hold down prices for years as properties remain subject to repossession and then may be sold at a discount.

As of late last year Fannie Mae and Freddie Mac had placed more than 300 high-risk counterparties on watch lists and stopped doing business with more than 40 of them.

It is no secret that the changing market landscape has created new opportunities and threats for mortgage bankers.