Servicing

Critical shortcomings in data management and analytics to support servicing rights transfers will become more problematic amid servicer expectations of accelerated activity, according to the results of a National Mortgage News survey.

PHH Corp. swung to a loss in the third quarter, as the mortgage servicer and originator set aside reserves to cover the potential cost of regulatory investigations.

The commercial mortgage-backed securities delinquency rate continued its year-long improvement in October, with another big improvement predicted for November, according to Trepp.

Nationstar will provide servicing-released option for fledging Chicago's MPF Government MPF program.

BlueVirgo Capital Management is marketing $106 million of bonds backed by tax-lien certificates on property in New Jersey and Florida, according to Kroll Bond Rating Agency.

Wells Fargo Home Mortgage has shifted Perry Hilzendeger to head up its mortgage servicing operations from his previous position of running its home loan default business.

Bank of America has paid more than $2.1 billion in consumer relief in the second quarter, making strides in paying the mortgage crisis-related penalties imposed by the Justice Department, an independent monitor announced Tuesday.

Cherry Hill Mortgage Investment Corp. has purchased its first mortgage servicing rights portfolio, with an aggregate unpaid principal balance of roughly $1.4 billion.

Bank of America has agreed to pay $335 million to settle a lawsuit claiming it misled shareholders about risky mortgages and its dependence on the electronic mortgage registry known as MERS.

Defaults on commercial mortgage-backed securities declined from the end of the third quarter, compared to the previous quarter, according to Fitch Ratings.