Servicing

A digital mortgage startup called Brace is using machine learning to automate loss mitigation and has lined up backing from several venture capital sources, including a fund with high-profile investors like Amazon founder Jeff Bezos.

The funds the bank promised to spend on consumer relief will instead be used to make new home loans, according to a report by the monitor of its 2017 settlement with the U.S. Justice Department.

HomeStreet Bank will attempt to sell its stand-alone mortgage business and portfolio of servicing rights, a move that comes amid growing pressure from an activist investor to exit home lending and concerns about declining demand and regulatory challenges.

Mortgage delinquencies in the fourth quarter were at their lowest level in nearly 19 years, helped by wage growth, low household debt and low unemployment, the Mortgage Bankers Association said.

Mortgage industry hiring and new job appointments for the week ending Feb. 15.

Ginnie Mae should not overreact in supervising smaller, more diversified mortgage bankers, but rather scale its approach in line with the concentration of risk that different-sized servicers pose.

Black Knight reported lower net earnings, but higher revenue in the fourth quarter compared with the previous year, driven by growth in the company's software segment.

Ocwen Financial Corp. now alleges that Fidelity Information Services misled California officials about its ability to conduct the audit at the heart of litigation.

Mortgage loan performance remained strong in November as serious delinquencies fell to their lowest reported level since before the housing bubble burst, according to CoreLogic.

A year after forming, the Erie County, Pa., land bank is compiling a list of blighted, tax-delinquent properties outside the city that need to be demolished or rehabilitated.