Servicing

Ocwen Financial Corp. will no longer require distressed borrowers involved in litigation with the mortgage servicer to sign nondisparagement agreements as a condition for receiving a loan modification, New York's banking regulator said Wednesday.

Bank executives see opportunity in selling MSRs and servicing the loans for the buyers.

Debt on Willis Tower, formerly the tallest U.S. building, was put in special servicing after the borrower requested a loan modification, Fitch Ratings said.

A reduction in mortgage rates has boosted Home Affordable Refinance Program refinancings, according to nonbank servicer Walter Investment Management Corp.

Further lender-placed insurance reform is part of new Federal Housing Finance Agency Director Mel Watt's strategic plan, likely shifting the balance between business and borrower interests back toward consumers.

Fannie Mae and Freddie Mac were sued by Massachusetts for allegedly failing to comply with a state law that lets nonprofit organizations buy foreclosed homes to sell them back to their former homeowners.

More than 40% of the 2 million recently modified mortgages facing interest-rate resets are underwater, according to Black Knight Financial Services data.

Now that Congress has rolled back steep increases in flood insurance premiums, lawmakers and housing interests are on the Federal Emergency Management Agency's case to avoid another bungle.

Fannie Mae's short sale portal has been updated with new features for real estate agents.

Much has been made of how Basel III requirements have dulled banks' appetite for mortgage servicing rights, but a handful of institutions are buying within regulatory limits.