Servicing

Even though more nationwide consumers are paying their credit card payments on time, mortgage delinquencies of 60-days or more have increased since 2007, according to an Experian report.

When it comes to qualified residential mortgages, industry and consumer groups like to say they are united, arguing that too strict a QRM definition will result in disqualifying many otherwise creditworthy borrowers. But not everyone is of that mindset.

Health care and housing remain two of the most risky sectors in the municipal market, with the federal health care bill and the sluggish real estate market contributing to skepticism about the sectors. But muni experts say some distressed debt is safe enough to be a buying opportunity.

Deutsche Bank has been chosen to sell Aurora Loan Services, the Colorado-based mortgage banking division of Aurora Bank FSB, according to industry officials.

Interactive Mortgage Advisors, LLC has been hired to sell a full service mortgage banking firm – including production, servicing and insurance units – but is keeping the identity of the company a secret, at least for now.

Credit-default swaps on Bank of America, the nation's largest residential servicer, this week surged to the highest level since April 2009 before paring those gains.

Home Loan Servicing Solutions Ltd., a newly formed Cayman Island corporation controlled by Ocwen CEO Bill Erby, plans to sell 18.3 million shares in its initial public offering, raising $316.3 million from investors.

Triad Guaranty Inc., the Winston-Salem-based mortgage insurer which is operating in run-off, lost $4.4 million during the second quarter, compared with net income of over $79 million one year prior.

Early Friday morning the mortgage banking industry had yet to learn who exactly bought Bank of America's $73 billion mortgage servicing portfolio with the bank declining to provide much in the way of details.

If there was ever any doubt that the mortgage market is in the midst of a restructuring, consider this: roughly $260 billion of mortgage servicing rights are currently up for grabs.