Servicing

American International Group Inc., the insurer being pressured by activist investor Carl Icahn to shrink the company, plans to pursue a partial spinoff of its mortgage guaranty unit.

Mortgage loan delinquencies dropped in December, according to Black Knight Financial Services' First Look report.

Mortgage professional hiring and new job appointments for the week ending Jan. 22.

Ocwen Financial Corp. will pay $2 million to settle charges that it misstated its financial results in valuing complex mortgage assets, said the Securities and Exchange Commission.

Default rates on various types of consumer loans were down 14 basis points in December on a year-over-year basis but were unchanged from November, according to Standard & Poor's and Experian.

Overlapping missions and jurisdictions are fueling competition between the Consumer Financial Protection Bureau and the Federal Trade Commission, according to former officials at both agencies.

Bank of America's mortgage banking income was down 26% from a year ago due to a decrease in core loan production revenue and higher intercompany charges during the fourth quarter.

David Miller resigned as chief executive officer of Silver Bay Realty Trust Corp., and board member Thomas Brock will lead the single-family landlord during the search for a new CEO.

Credit Plus in Salisbury, Md., has introduced loan repurchase insurance for mortgage lenders and servicers that use its verification products.

Synovus Financial in Columbus, Ga., reported a higher fourth-quarter profit on stronger interest and fee income.