Servicing

A loan officer for a Florida mortgage company was sentenced to more than four years in prison for pleading guilty to committing wire fraud in a $9.2 million mortgage fraud scam.

OK, one borrower wrote his lender he couldn't make his mortgage paymentbecause he'd been bitten by a spider. That can happen to anyone, right? But he didn't make his payment the second or third month, either.

Old Republic International Corp. said it has withdrawn the spinoff of its mortgage insurance and consumer credit indemnity businesses into a separately traded company called Republic Financial Indemnity Group.

California pending home sales for May were flat from April, but posted double-digit gains from a year ago for the fourth straight month.

Only hours after regulators released federal guidelines detailing how much homeowners would receive for wrongful foreclosure actions due to banks' mortgage servicing failures, consumer advocates were up in arms.

Major servicers are in various stages of setting up their systems and training personnel to provide struggling homeowners with a single point of contact that they can rely on as they go through the loan modification process.

The New York State Assembly passed a bill that protects homeowners from fraudulent business practices like robo-signing from taking place during the foreclosure process.

Fitch Ratings has issued the first of a series of reports that address recent investor allegations about “servicer specific deficiencies.”

Among the strongest industry rationales for a national mortgage servicing settlement was that it would break the legal stalemate over a huge backlog of delinquent loans.

Six out of 10 homeowners who received a loan modification stopped paying their mortgage again after 18 months, but there may be a modest silver lining buried in the high recidivism rates.