Servicing

Five banks across the nation failed in November, according to Trepp LLC's latest report, with commercial real estate a major contributing factor.

This past week the Consumer Financial Protection Bureau began taking complaints regarding mortgages.Their initial pilot project encompassed credit card complaints numbering a bit north of 5,000 over the past three months.

Fitch Ratings said Friday that an outlook change to negative for "defeased" U.S. CMBS looks unlikely despite the use of government debt in defeasance and a recent revision of the sovereign outlook to negative.

PNC Financial Services is taking a look at parts of MetLife Mortgage, according to industry advisors familiar with the situation.

News about the biggest banks and their struggles with residential mortgage-backed securities and their related liabilities is more or less inescapable these days.

Delinquency rates on securitized commercial mortgages fell sharply in November for the first time in three months, but analysts at Trepp LLC don't see it as a trend.

Servicing risks tied to Veterans Administration-backed loans has left some firms exposed to losses that, among other things, create challenges when it comes to trading the underlying MSRs, but some market participants are showing interest in doing something to improve the situation.

GMAC Mortgage on Friday said it will no longer purchase loans originated by mortgage correspondents or brokers in Massachusetts, citing the regulatory environment in the state.

Over the past week or so Bank of America began telling a select group of its warehouse lending clients that their lines would terminate within 30 to 90 days.

For several months Fannie Mae has insisted that it's not in the servicing business, but a recent 10-Q filing by the government-owned GSE reveals that it agreed to buy $74 billion of MSRs from Bank of America in the third quarter. No purchase price was disclosed.