Servicing

PennyMac became the third largest correspondent aggregator after banks turned their back on the mortgage origination channel. With banks now increasingly shedding servicing rights, PennyMac is poised to make a similar play in servicing.

Common sense underwriting, a regulatory system that abides by contract law, and borrowers who consider homeownership a privilege, not an entitlement, make Canada perfect for private -label residential mortgage-backed securities.

Mortgage technology provider Altisource has added a new compliance feature to Equator, its mortgage-servicing software.

Assure360, a mortgage technology company in Carrollton, Texas, said on Wednesday that it was recently acquired by ARMA Acquisition, an investment firm in Chicago.

The draft released by the top Financial Services Committee Democrat would remove adverse information from credit reports and require consumer data furnishers to retain records.

Redwood Trust is preparing what may be the first securitization of residential mortgage bonds that do not fall under new rules designed to ensure that borrowers can afford the payments.

The Federal Housing Administration wants lenders to make fewer mistakes when writing mortgages for the government insurance program. The agency also wants to serve more borrowers with low credit scores. Getting both may be tricky.

The industry will have a place at the table to discuss the creation of risk-sharing arrangements, Curt Culver said at an investor conference.

The Mortgage Bankers Association announced two promotions Monday as part of an organizational realignment plan.

Mortgage insurance companies Radian and MGIC on Monday reported fewer claims on delinquent loans compared to a year ago.