Servicing

Wells Fargo announced the closure of a mortgage servicing site and the retirement of a longtime commercial banking executive Wednesday.

Many servicers are willing and able to modify mortgages to help borrowers save their homes. It’s just a matter of getting that message through.

It's was anything but a winter wonderland for the housing market, according to a report by Freddie Mac.

The latest securitization of reperforming residential mortgages offers investors less protection against future losses than the previous deal, and has earned correspondingly lower safety scores from Fitch Ratings.

The Justice Department's Clifford White is putting all mortgage servicers on notice that they too will be punished if they flout bankruptcy rules.

Investors punished Nationstar Mortgage, sending shares down more than 10% Wednesday, down $3.15 a share to $27.96 a share, after the nonbank servicer announced a capital raise of roughly $500 million that will dilute existing shareholders.

With mortgage giant Freddie Mac finding increased demand this week in the nascent market for its risk-sharing securities, competitor Fannie Mae said it was taking steps to draw more buyers for its own notes.

MGIC Investment Corp. former Chief Executive Officer Curt Culver, who presided over an 85% stock-price decline during his tenure, received compensation valued at about $8 million for his last full year in the top job.

Commercial mortgage-backed securities servicers have held on to real-estate owned properties for longer than usual, which could lead to a reversal in the declines in liquidations seen recently, according to a Fitch Ratings study.

There are a lot of consumer, investor and regulatory complaints about how the nonbank servicing firm does business, but Morgan Stanley researchers offer reasons why certain investors and borrowers could benefit from sticking with Ocwen.