Servicing

An undisclosed independent mortgage banker is selling a $918.6 million Ginnie Mae bulk residential mortgage servicing rights portfolio.

ISGN Corp. has completed the sale of its business process outsourcing unit to Firstsource Group USA, a subsidiary of the Indian firm RP-Sanjiv Goenka Group.

Two recent court rulings affirmed that lenders can enforce electronically signed and transferred notes, laying important groundwork for wider adoption of electronic mortgage technology that could improve the customer experience for borrowers and save lenders and servicers a bundle.

Former Wells Fargo executive Mike Heid was voted onto Fannie Mae's board of directors Wednesday.

Mortgage professional hiring and new job appointments for the week ending May 20.

Essent Group may have an opportunity to buy Radian Group, the rival mortgage insurer whose chief executive officer is stepping down.

The number of zombie foreclosures, properties in the foreclosure process that are vacant, dropped 30.1% from a year ago during the second quarter, according to RealtyTrac.

The Department of Housing and Urban Development issued a proposal Wednesday to codify recent changes to its reverse mortgage program and to provide additional protections for seniors, including a cap on annual interest rate increases.

Radian Group, the second-largest U.S. mortgage insurer, said Chief Executive Officer S.A. Ibrahim will step down at the end of next year after steering the company through the financial crisis as weaker rivals collapsed.

Ditech Financial will shift a St. Louis-area servicing platform to start doing new loan originations during the third quarter.