Servicing

A 10-year-old fraud case against two San Luis Obispo County, Calif., lenders has ended in a hung jury.

Next to a new Columbus, Ohio, apartment complex on East Whittier Street — a shining testament to the South Side's revival — sits a block of boarded-up and crumbling brick townhomes.

New Residential Investment Corp. is planning to purchase Shellpoint Partners in the first half of next year for $190 million with an additional earn-out over the next three years.

A Kiryas Joel, N.Y., man was sentenced to 18 months in prison and ordered to forfeit $1.2 million to federal authorities for his role in a mortgage-fraud operation in which prosecutors had charged 15 people in all.

The Senate tax reform proposal could force servicers to pay tax upfront on income that is currently tax deferred, according to the Mortgage Bankers Association and the Consumer Mortgage Coalition.

The Federal Housing Administration's recent actuarial report has added more fuel to the fire over concerns about reverse mortgages, including their effect on the overall FHA insurance fund and a rise in foreclosures.

Consumer default rates are up month-to-month, which may reflect a gap between spending and income that is stressing second mortgages and bank cards, Standard & Poor's and Experian find.

Late payments from borrowers living in areas hardest hit by Hurricanes Harvey and Irma were responsible for October's increase in loan delinquencies.

Mortgage Contracting Services will acquire Carrington Home Solutions' property preservation division in a deal expected to close by the end of the year.

The impending bankruptcy of Walter Investment Management Corp. should not affect its subsidiary Ditech Financial's capability to service securitized mortgages, Fitch Ratings said.