Servicing

The quarter-to-quarter increase in the mortgage delinquency rate is nothing to get excited about — yet, said a member of the Mortgage Bankers Association economics team.

New Residential Investment Corp. had net income of $225 million in the fourth quarter, more than double the $103 million reported for the same period in 2015.

The mortgage servicer will pay at least $25 million in cash and provide some $200 million in debt relief to borrowers to resolve a range of alleged violations. But Ocwen will also be allowed to resume acquiring servicing rights in the nation's largest state.

The Chicago Federal Home Loan Bank experienced a significant jump in mortgage originations in 2016 due to a "re-introduction" of its traditional Mortgage Partnership Finance loan product.

State mortgage regulatory examinations are focusing on systemic issues and using their broad authority under the Dodd-Frank Act to enforce the Consumer Financial Protection Bureau's servicing rules.

Mortgage industry hiring and new job appointments for the week ending Feb. 17.

Fannie Mae reported higher net income in the fourth quarter over the previous year.

The developers of new loan-modification programs need to streamline application processes and stop making borrowers chase down useless documents.

The Basel III capital requirements are making it hard for banks to stay in the servicing business, said David Motley, president of Colonial Savings. Their exodus from the market indirectly hurts consumers, he argued.

Phyllis Caldwell has put a priority on ensuring the company's board and workforce look more like the borrowers whose mortgages it services.