Servicing

For the first time, the Department of Housing and Urban Development is selling notes secured by unoccupied one-to-four homes where the last surviving reverse mortgage borrower died.

Mortgage industry hiring and new job appointments for the week ending Nov. 11.

MTLGQ Investors, a Goldman Sachs affiliate, submitted the winning bids in Fannie Mae's sale of $1.3 million of nonperforming loans.

Even with Republicans controlling both Congress and the White House, it's highly unlikely the Consumer Financial Protection Bureau will be completely eliminated. However, under the new presidential administration's oversight, many of its more aggressive policies will likely change.

The heightened refinancing activity is seen as increasing Ginnie Mae prepayment speeds and reducing the value of mortgage servicing rights.

Mortgage lobbyists are eager to seize on Republican victories in the House, Senate and White House races, hoping to advance the industry's aims in the next Congress.

The overwhelming majority of candidates supported by the mortgage industry by and large performed well on Election Day, with one notable exception.

PHH Corp. has agreed to pay a $28 million fine to the New York Department of Financial Services to settle allegations its servicing and origination units mistreated borrowers.

Walter Investment Management Corp. lost $101.8 million in the third quarter, driven by goodwill and intangible asset impairment charges of $60.8 million and noncash charges of $17 million.

PHH Corp. is getting out of the private-label mortgage origination business in the wake of Merrill Lynch ending its relationship, plus it is selling its Ginnie Mae servicing rights to Lakeview Loan Servicing.