Servicing

As the market slows for post-downturn, private-label, residential mortgage-backed securities—known as RMBS 2.0—an industry group thinks it's time to start preparing for version 3.0.

New Jersey surpassed Florida with the highest share of U.S. mortgages in foreclosure in the first quarter as delinquencies nationally fell to pre-crisis levels.

Massachusetts Attorney General Martha Coakley reiterated calls Wednesday for the Federal Housing Finance Agency to allow Fannie Mae and Freddie Mac to offer principal reductions to distressed borrowers and to participate in nonprofit home buyback programs.

Homeowners who took advantage of the refinancing boom aren't buying new houses, because it would mean taking on higher-rate loans. That's a problem for banks already reporting huge declines in mortgage revenue.

American Homes 4 Rent expects to net about $481 million from a previously disclosed securitization transaction.

Fortress Investment Group is preparing a bid to buy Stuyvesant Town-Peter Cooper Village, the Manhattan apartment complex whose future has been in limbo since its owners defaulted on a $3 billion mortgage four years ago.

Green Tree's bad report card comes as regulators and lawmakers are scrutinizing nonbank servicers that have aggressively purchased mortgage servicing rights from banks.

The government-sponsored enterprises just went a long way toward encouraging lenders to make more loans to borrowers with lower credit scores.

The agency is developing a new methodology for evaluating underwriting defects to give lenders a better handle on the risk posed by any given flaw in a loan file.

In a wide-ranging speech on Tuesday, new FHFA Director Mel Watt said he would not weigh in on the housing finance reform debate percolating in Congress, while also detailing what changes he plans to make at the agency, including encouraging more access to credit.