Servicing

A New York law that was invalidated by a federal judge was one of many efforts by big cities to pressure banks into making more investments in local communities after the crisis. Some municipal laws could be more vulnerable to bankers' legal challenges than others.

Walter Investment Management in Tampa, Fla., said its second-quarter loss widened, as it recorded a goodwill impairment charge in its reverse mortgage division.

The delinquency rate for commercial mortgage-backed securities was little changed from June to July, according to Fitch Ratings.

A federal judge has overturned a New York City law that would have required banks to make new disclosures regarding their investments in local communities.

1st Service Solutions warned that the Las Vegas, Phoenix and Chicago markets could cause problems for commercial mortgage-backed securities investors.

PHH Corp. reported losses of $62 million for the second quarter, driven by major increases in operating expenses and a $46 million loss in the servicing segment.

Mortgage professional hiring and new job appointments for the week ending Aug. 7.

Bank of America is offering $1.2 billion of mostly delinquent home loans, extending a series of sales by lenders seeking to pare holdings and meet demand by investment firms for soured mortgages.

Despite being introduced to the market with great fanfare, Fannie Mae's 3% down payment mortgage offering has yet to gain much traction with lenders and consumers.

Former Wilmington Trust President Robert V.A. Harra was indicted on U.S. charges that he lied to regulators as part of a scheme to hide bad real estate loans