Servicing

The worst of the credit crisis has passed, but many banks are still living on borrowed time. So contends Kamal Mustafa, the chairman and chief executive of Invictus Consulting Group, which specializes in stress-testing banks.

Regions Financial's second-quarter earnings spiked as the Birmingham, Ala., company managed to reduce expenses and problem loans.

New York Community Bancorp Inc. earned $58 million from its mortgage banking division in the second quarter, a handsome 66% gain from the prior quarter, and an almost fourfold increase from the same period a year ago.

Although there still are risks to be accounted for, Wayne Tew believes this is a good time to be in the mortgage business.

CO-OP Member Center is partnering with LenderLive Network to provide credit unions with mortgage outsourcing services.

The acquisition consists of 51 performing, subperforming and nonperforming notes secured by various commercial real estate and various assets located in Dade, Broward and Palm Beach Counties in Florida.

Conix Inc. completed a record second quarter by acquiring $112 million worth of distressed real estate.

The California attorney general said three business owners who ran a national loan modification scam for over a year have to pay a least $4 million in restitution.

The Consumer Financial Protection Bureau is setting up special advisory boards to get input from small banks and credit unions on regulatory policies.

Company leaders think the REO-to-rental strategy is the future wave of the industry since most Americans, particularly young adults, do not view homeownership as a stable investment.