Servicing

Standard & Poor's has agreed to pay Pennsylvania $21.5 million to settle a federal lawsuit that claimed the company defrauded investors by abandoning its role as an independent loan evaluator in the lead-up to the Great Recession.

Homeowners who refinanced their mortgages last year should have some extra coin in their pockets this year: $5 billion worth of saved interest in the first 12 months.

The expiration of the federal Protecting Tenants at Foreclosure Act leaves servicers dealing with a patchwork of state laws and investor rules, while renters living in REO properties are at a greater risk of eviction.

Ocwen Financial Corp., the mortgage company that's faced attacks from regulators and bond investors, had its proficiency grades reduced by Fitch Ratings.

You can get a jump on taking preventive and proactive measures against defaults in order to mitigate risk and retain portfolio assets. Here's how.

Dan Sparks helped Goldman Sachs Group Inc. profit from its bets against subprime mortgages. Now he's expanding credit to Americans hurt when those types of loans soured and the housing market collapsed.

Fannie Mae and Freddie Mac's overseer wants to allow debt cuts for a narrow group of borrowers who owe more than their homes are worth.

Standard & Poor's tab is $1.4 billion — including $52.5 million for Illinois — to resolve long-standing allegations by federal and state authorities that the firm misled investors in the run-up to 2008's financial collapse.

Bank of America plans to lay off 202 employees in a loan servicing unit in Norfolk, Va., by March 29 because of the continuing decline in the number of delinquent mortgages.

Deval, a loan servicing company in Dallas, has received its Freddie Mac servicer approval.