Servicing

JPMorgan Chase & Co. can't stop trying to make up for its transgressions against military personnel.

Lawyers for the National Credit Union Association told a federal judge in Los Angeles that the federal agency's June 20 suits against JPMorgan and RBS Securities should not exonerate officers and directors of WesCorp FCU in the 2009 failure of the one-time $34-billion corporate credit union.

PMI Group Inc., Walnut Creek, Calif., said it started on July 1 to write new business in two states through a subsidiary it set up as a contingency for when its main mortgage insurance underwriting subsidiary would exceed the risk-to-capital ratio mandates that 16 states have.

TSS Software Corp. added a transaction-based pricing option to its TitleSphere software-as-a-service for HUD-1 and Good Faith Estimate document preparation.

Bank of America has named Mike Hall to replace Paul Szymanski as the head of its warehouse lending business. Szymanski left B of A to reunite with former Countrywide Credit Industries president Stanford Kurland and start a warehouse lending business at PennyMac.

Local housing counselors are racing to sign up unemployed and underemployed homeowners by July 22 so they can qualify for federal loans that cover a portion of their mortgage payments for up to 24 months.

Second quarter bank and thrift earnings could see "some pressure" as a result of "relatively weak" revenues from their mortgage banking businesses, a report from FBR Capital Markets warns.

The new era in field services has changed the job description for both field service companies and their employees.

The crisis has turned property valuations into one of the biggest challenges for the mortgage industry, especially for managers of bank-owned properties feeding demand for valuation tools.

A new alliance between the U.S. Conference of Mayors and Wells Fargo Home Mortgage, designed to address foreclosure prevention, property disposition, homeownership promotion and community development over a three-year period, will combine strategies developed by Wells Fargo and outreach initiatives conducted by the mayors and their constituents.