Servicing

The newly installed chairman of the Federal Communications Commission voted against 2015 rules that largely rejected the banking industry's entreaties.

The Consumer Financial Protection Bureau hit Prospect Mortgage with a $3.5 million fine for illegally paying kickbacks to two real estate brokers and a mortgage servicer.

Democrats boycotted the Senate Finance Committee's planned vote Tuesday on the nomination of Treasury Secretary-designate Steven Mnuchin, temporarily stalling it from moving forward.

Late payments on securitized commercial mortgages fell modestly in January, bucking the recent trend.

New Residential Investment Corp. has priced the public offering of more than 49.2 million shares of its stock that it plans to use to pay for its purchase of mortgage servicing rights from CitiMortgage.

Citigroup's decision to exit mortgage servicing by the end of 2018 is part of a long-term strategy to increase returns and sharpen the bank's focus on its core retail customers.

CIT Group's exit from its commercial air and reverse-mortgage-servicing businesses cost it heavily in the fourth quarter.

Citigroup's plans to sell a $97 billion mortgage servicing portfolio and subservice its remaining accounts highlights the growing prevalence of nondepository servicers and raises questions about how much capacity exists for these institutions to absorb more large deals.

The Federal Emergency Management Agency has tapped Torrent Technologies as a direct service provider for the National Flood Insurance Program.

New Residential Investment Corp. is planning a public offering of more than 49.2 million shares of its stock to pay for its purchase of mortgage servicing rights from CitiMortgage.