Servicing

MountainView Servicing Group said Friday that it is the exclusive advisor for the sale of a bulk mortgage servicing rights portfolio with Fannie Mae, Freddie Mac and Ginnie Mae loans.

Mortgage professional hiring and new job appointments for the week ending May 6.

Borrowers who have defaulted in the past are generally considered to be a bigger risk than those who have never missed a payment. Yet the early performance of bonds backed by rehabbed residential mortgages is pretty strong.

Under the Federal Housing Finance Agency's new mortgage modification program, less than 1% of all seriously underwater properties might qualify for principal loan forgiveness, according to RealtyTrac.

PHH Corp. reported a first-quarter loss of $30 million, which included a $10 million pretax adjustment to the value of its mortgage servicing rights.

Nationstar Mortgage Holdings reported a $132.4 million loss for the first quarter of 2016, showcasing once more the toll falling interest rates have taken on companies across the mortgage industry.

Walter Investment Management Corp. sank into a deeper $172.7 million net loss during the first quarter, as lower interest rates caused pressure on the company's mortgage servicing rights valuation.

United Guaranty's pretax operating income of $163 million benefited from lower mortgage delinquency rates but a decline in refinance originations affected the amount of new insurance written.

Servicing rights are high-yielding assets, making them attractive investments for hedge funds, real estate investment trusts and banks.

Freddie Mac is marketing its 20th offering of Structured Agency Credit Risk notes offloading exposure to defaults on residential mortgages that it insures.