Servicing

The proportion of U.S. mortgages that were underwater dropped from the second quarter to the third quarter, according to RealtyTrac.

The Consumer Financial Protection Database might be unfair to the financial services industry, but the information it holds for lenders and servicers can help them manage customer service and avoid costly litigation.

Mortgage servicer Ocwen Financial failed four servicing tests in the second half of 2014. Joseph A. Smith Jr., the monitor of the $25 billion national mortgage settlement, said the Atlanta servicer was “beginning to show progress” in complying with terms of the 2012 agreement.

Mortgage default rates decreased in September, pushing the composite rate down seven basis points to 0.89%, according to the S&P/Experian Consumer Credit Default Indices.

Fannie Mae's latest offering of Connecticut Avenue Securities, its last of the year, is the first to offer exposure to actual losses on residential mortgages that it insures.

Ginnie Mae's limited resources are going to be focused on working with its existing issuers, especially those that are not creating new securities, according to its president.

Mortgage servicers have gotten a rare reprieve from the Federal Housing Administration.

The Florida Supreme Court affirmed the validation of $2 billion in clean energy bonds over challenges brought by banks and a former state legislator.

The servicing industry is also facing higher capital requirements under the Basel III accord that are being phased in.

Mortgage professional hiring and new job appointments for the week ending Oct. 16.