Servicing

Without the Consumer Financial Protection Bureau setting specific debt collection guidelines — including what technology agencies can use — the industry will continue a practice that harms consumers: lawsuits.

BentleyForbes once owned such renowned properties as the Watergate in Washington and Bank of America Plaza, Atlanta's tallest skyscraper. Now the company is on the verge of vanishing.

The Mortgage Industry Standards Maintenance Organization plans to simplify its membership structure, the Mortgage Bankers Association said.

Bank of America will move its mortgage servicing back onto Black Knight Financial Services' LoanSphere MSP servicing system of record.

Ocwen Financial Corp. in West Palm Beach, Fla., will lay off 120 employees as part of a plan to reduce costs.

Cash sales are falling overall, but still represent the majority of sales involving homes in the lowest tier of property values, according to Black Knight Financial Services.

MFA Financial has carved out an impressive niche for itself by buying reperforming and nonperforming residential mortgages and securities.

The delinquency rate on the loans included in commercial mortgage-backed securities increased for the third consecutive month in May after significant declines at the start of the year, according to Trepp.

New York's State Assembly has passed legislation that seeks to address problems related to preforeclosure vacant and abandoned properties.

Mortgage professional hiring and new job appointments for the week ending June 3.