Servicing

The pain and necessary changes in the mortgage industry that stemmed from the housing crisis have forced many lenders and servicers to utilize operating strategies that are reactive in nature and fail to capture the longer-term intrinsic value of today's troubled borrowers.

ReverseVision, which operates the largest technology platform in the reverse mortgage industry, suffered an outage with its RV Express system because of a hardware failure. It's the second technology disruption for the San Diego-based vendor.

The California Department of Business Oversight is accepting applications until Feb. 20 from firms or individuals with experience with the California Residential Mortgage Lending Act and California Homeowner Bill of Rights.

Mortgage professional hiring and new job appointments for the week ending Jan. 30.

Residential real estate in the Philadelphia region saw falling prices and modestly rising sales in 2014's fourth quarter.

Four years into a $1 billion foreclosure prevention plan, Florida is not getting enough money into the hands of struggling homeowners and has enrolled fewer than 100 people into one of its five programs.

TCF Financial took $44 million in charges to rid itself of mortgages made before the housing collapse. A distressed-asset investor purchased more than $400 million in loans from the company, and another pool of bad mortgages may be marked for sale soon.

The Federal Housing Administration will make foreclosure protections available to a larger number of surviving spouses of deceased reverse mortgage borrowers.

Banks have made progress cutting their exposure to risky home equity lines of credit, ahead of a key 10-year threshold when billions of dollars of them will reset to higher monthly payments. But there are some prominent exceptions, especially among regional banks.

South Florida is inching closer to housing stability, according to a monthly report by Freddie Mac.