Servicing

Recently raised regulatory concerns about the massive transfer of mortgage servicing rights from banks to nonbanks are fueling industry hopes that policymakers may be open to addressing the issue.

Congressional inaction on debt forgiveness provision leads to more foreclosures.

New York regulator Benjamin Lawksy plans to eliminate several layers of review for mortgage bankers to apply for a license or a new branch location, and to expand an investigation into the affiliated businesses of nonbank servicers.

New York Attorney General Eric Schneiderman renewed calls for the state legislature to address the problem of "zombie properties," or foreclosed homes that banks have walked away from to avoid the cost of maintenance.

The mortgage life support provided by the federal government since the crash is ebbing. It will be interesting to see if the industry can breathe on its own now.

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Genworth Financial announced Thursday that its Australian mortgage insurance business will raise about $535 million in an initial public offering.

The company attributed the loss to costs associated with its recent acquisition of Nationstar's wholesale lending channel, as well as adjustments in mortgage servicing rights.

Launching the new division is a "key step" in becoming a more diversified mortgage company, says CEO Ed Fay.

The Mortgage Technology Awards recognize innovative technology developers and users that are promoting more efficient and cost-effective lending practices. The awards are among the most coveted in the industry.