Servicing

Rising interest rates had no effect on the delinquency rate spiking 9.9% from May to June.

Like large banks, community banks are facing a steep decline in mortgage income over the next few quarters as the refinancing boom that has largely driven profits in recent years finally comes to an end.

The technology stock closed over 16% higher based on its 2Q13 results.

Federal prosecutors in Cleveland filed papers Aug. 2 seeking to seize a home owned by Alex Spirikaitis, the fugitive CEO of Taupa Lithuanian CU.

Allstate’s 2011 lawsuit against Goldman Sachs over the alleged fraudulent sale of residential mortgage-backed securities has been discontinued.

James Cockinos was sentenced to one year in prison for his role in conspiring to commit bank fraud in order to secure a $1.48 million residential real estate loan.

The Prestwick Mortgage Group said it is exclusively brokering on behalf of an unnamed seller a $154 million portfolio of Ginnie Mae II mortgage servicing rights.

There are 1,031 Ginnie Mae loans and 617 Fannie Mae loans in the portfolio, and the majority of the loans are no cash out refinances.

Under the Making Home Affordable programs there can be a benefit for both the homeowner and the industry that many may have overlooked.

Moody's Investors Service has downgraded four tranches issued by Bravo Mortgage Asset Trust 2006-1.