Servicing

The bank recently notified an upstate New York man that he was wrongly denied a mortgage modification, and enclosed a $25,000 check. But details of what went wrong have been hard to come by.

Three people who fraudulently obtained $9.3 million in mortgage loans involving homes in Modesto, Patterson and Lathrop, Calif., have received multiyear federal prison sentences.

The city of Savannah, Ga., more than doubled the number of properties targeted with a blight tax this year in a continued attempt to reduce the amount of unsafe and unsightly structures throughout its neighborhoods.

Mortgage industry hiring and new job appointments for the week ending Nov. 9.

UBS Group sold tens of billions of dollars' worth of residential mortgage-backed securities by "knowingly and repeatedly" making false and fraudulent statements to investors about the loans backing those trusts, the U.S. Justice Department said in a civil suit filed Thursday.

Mr. Cooper Group — the new name following the combination of Nationstar Mortgage and WMIH Corp. — posted a $54 million third-quarter profit and announced plans to buy Pacific Union Financial, as well as make other strategic acquisitions.

Ditech Holding Corp.'s stock is being delisted from the New York Stock Exchange, and the company is recommitting itself to finding an acquirer or other option that could improve investor value.

Wells Fargo said Tuesday that an internal error that affected customers requesting mortgage modifications to remain in their homes impacted hundreds more people than the bank initially thought.

A former instructor at the Purvis Real Estate Training Institute in Fort Worth, Texas. was sentenced to 13 years in federal prison for running a Ponzi scheme that robbed investors of more than $1.2 million.

Ocwen Financial Corp. recorded a deeper quarterly loss of $40 million after acquiring PHH Corp., but still expects the deal's economies of scale to eventually lower costs and restore profitability.