Servicing

Mortgage industry hiring and new job appointments for the week ending Oct. 19.

Providing borrowers with an incentive to create financial reserves after closing is a better tool to prevent mortgage loan defaults than measures taken at underwriting, a JPMorgan Chase Institute study declared.

MGIC Investment Corp.'s quarterly earnings were again driven by better-than-expected loss development, and those favorable results should be seen in the other private mortgage insurers' results as well, an industry analyst said.

Nomura Holding America and affiliates agreed to pay a $480 million penalty to resolve U.S. claims that the bank misled investors in marketing and selling mortgage-backed securities tied to the 2008 financial crisis, according to the Justice Department.

Pretium Partners is buying Selene Finance, a residential mortgage servicer, from funds managed by Oaktree Capital Management and Ranieri Partners.

The Federal Housing Administration is looking to streamline its single-family loan servicing requirements to align them with industry standards and upgrade outdated technology.

Ex-Ginnie Mae President Joseph Murin is among several industry veterans joining Ainsworth Advisors, a consultancy run by former mortgage banker David Lykken and former Texas Capital Bank executive Gary Ort.

Industry downsizing resulted in an increase in critical defects found in closed mortgages as loan packaging errors continued to rise during the first quarter, according to Aces Risk Management.

The REIT is purchasing another $500 million of credit risk transfer notes through Fannie's L Street Securities program; this is its first deal rated by Fitch.

As the mortgage industry confronts tight margins, shifting market share and regulatory uncertainty, a new leader emerges at the Mortgage Bankers Association.