Servicing

Moody's Investors Service's index of cumulative defaults for Spanish residential mortgage-backed securities rose to 1.98% of the original balance in June compared to 1.89% in March.

Oak Grove Capital has originated a $59.5 million Fannie Mae bond credit enhancement loan for the acquisition and renovation of 694 affordable housing units on the Southside of Chicago.

The CEO of Synergy One Federal Credit Union, whose branches are located in Prince William County, Va., said the institution's pending acquisition by Apple Federal Credit Union, Fairfax, Va., is being caused by how the economy is affecting the area's housing market.

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.