Servicing

With the news coming out on Oct. 28 that the Federal Open Market Committee has ended bond purchases, finishing its third round of quantitative easing, my first reaction was to check the stock market.

In a surprise victory for mortgage servicer PHH Corp., a California judge overturned a $16.2 million jury verdict awarded to a California homeowner in July for a botched loan modification.

The court asked another governmental entity to remedy the plight of non-borrowing spouses facing foreclosure. So far options appear to give few consumers relief.

The number of homes lost to foreclosure in September fell to 46,000, according to data from CoreLogic.

EverBank Financial in Jacksonville, Fla., reported higher quarterly profit due to an uptick in residential lending.

The three-year-old U.S. consumer protection agency said it discovered that the largest mortgage servicers have been mishandling loan modifications and harming borrowers since new rules came into effect in January.

Residential real estate property price gains continued in August, albeit by a shrinking margin, according to Black Knight Financial Services.

A slow and uncertain housing recovery continues, according to a report by Freddie Mac.

Wingspan Portfolio Advisors, a diversified mortgage services company in Dallas, will receive a multimillion-dollar capital infusion from a stockholder investment group.

Guild Mortgage in San Diego has acquired Northwest Mortgage Group in Portland, Ore., for an undisclosed price. Through this transaction, Guild adds eight branches and $842 million in loan volume to its portfolio.