Servicing

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Ocwen Financial Corp. named two new members to its board of directors as the nonbank servicer works to repair its image in the eyes of regulators and investors.

Altisource Portfolio Solutions promoted John Vella to the new position of chief revenue officer in a bid to grow beyond its relationship with embattled former parent Ocwen Financial.

MGIC on Tuesday reported an increase in its quarterly earnings, as the company slashed its losses and boosted net premiums.

Loan default rates increased for the fifth consecutive month in December, according to the S&P/Experian consumer credit default indices.

William Erbey is getting $1.2 million in cash and medical coverage for his wife after he stepped down from Ocwen Financial Corp., one of the largest mortgage servicers, as part of a deal with New York regulators.

The Ocwen spinoff Altisource Portfolio Services delivered notices to more than 800 employees and hundreds of contractors this week as part of the company's scramble to reassure investors.

Michigan homeowners facing a loss of their houses to foreclosure will find it easier to solve their financial problems as a result of a package of bills signed by Gov. Rick Snyder.

The city of Owensboro, Ky., has plowed through a complicated process that led to a mass foreclosure action against 21 problem properties, most of them residential. Now, the city has its sights on another set of similar problem properties for foreclosure.

Local officials could have a new weapon, courtesy of state government, in a drive to thin out empty residences and buildings in St. Joseph, Mo.