Servicing

Authorities unsealed a 40-count indictment against six individuals who allegedly targeted distressed homeowners with the false promise of loan modification services following the 2008 financial crisis.

The recent delay of new HECM rules is a reprieve for lenders scrambling to implement training and systems updates ahead of the original deadline. But it's also prompted questions about a key technology used by the reverse mortgage industry.

MGIC Investment Corp. saw its inventory of delinquent loans resume its reduction in February after growing the month prior.

Despite an increase in housing affordability, both first-time and repeat foreclosure starts reached 12-month highs in January, according to Black Knight Financial Services.

Ocwen Financial's termination as servicer of two residential mortgage securitizations has no immediate impact on the strength of the company, but it does set a "negative precedent" that could eventually lead to the servicer being fired from more deals, Moody's Investors Service warns.

The City of New Orleans is planning its first online auction to sell 1,786 adjudicated properties.

Mortgage professional hiring and new job appointments for the week ending March 6.

Asset manager Distressed Capital Management bought more than $207 million in reperforming and nonperforming whole loans from the Royal Bank of Scotland in late February.

Four years after agreeing to an initial settlement, Bank of America has won court approval for its $8.5 billion settlement with investors over Countrywide's mortgage practices. Here's an update on all the other big mortgage litigation outstanding.

Some newcomers to mortgage servicing did not hedge because hedging would have increased costs. Had rates moved up, the strategy would have paid off handsomely. Instead, it worked against them.