Servicing

The Federal Housing Administration is changing a pair of rules on interest rate payments and resets to align with the Consumer Financial Protection Bureau's qualified mortgage rule.

Flagstar Bancorp is negotiating with the Consumer Financial Protection Bureau over potential violations in the Troy, Mich., company's default servicing business.

President Obama announced an initiative Tuesday with several large banks and mortgage servicers designed to make it easier for members of the military and their families to lower their mortgage payments.

Many active-duty service members are unaware that they are eligible to postpone mortgage payments under the Servicemembers Civil Relief Act. A group of major financial services companies have pledged to improve communication about this option, according to the Financial Services Roundtable's Tim Pawlenty and John Dalton.

It is clear that the Consumer Finance Protection Bureau has made the mortgage industry a top priority and its supervised entities have had to fall in line with its expansive rules and regulations quickly.

Despite overall foreclosure inventory falling in July, foreclosure starts were up for the third consecutive month, according to a "first look" report from Black Knight Financial Services.

New rules are illuminating a once-shadowy market where servicers can be quick to modify loans and may have few qualms about principal reduction. Discounts or equity make such flexibility possible.

Investors are moving their focus into California's less expensive, more rural areas, according to a California Association of Realtors survey.

Altisource, a mortgage data company in Luxembourg, has opened a new technology campus in Bangalore, India.

Sen. Sherrod Brown may give the country's biggest banks heartburn, but there are signs he's positioning himself as an industry ally ahead of a potential bid to run the Banking Committee.