Servicing

In Mary Armstrong’s plea, she admitted that the straw buyers defaulted on the loans, resulting in lenders and secondary purchasers such as Fannie Mae and Freddie Mac to suffer losses of up to $20 million.

HomeStreet said its net gain on mortgage loan origination and sales activities in the first quarter was $54 million, down 22% from $69 million in 4Q12 but up 83% from nearly $30 million for 1Q12.

The National Association of Realtors’ leading indicator of future existing home sales increased in March, but contract activity in recent months is only improving modestly.

The banks object to a consolidation, saying each of the cases has separate claims, defendants, originators, disclosures, loans and evidence.

A Maryland mortgage broker pleaded guilty to conspiring to commit wire fraud in connection with two separate schemes that resulted in lenders losing over $2 million.

First Financial Northwest said the Federal Reserve System has lifted the memorandum of understanding entered into slightly over two years ago.

Rockville Financial said adding an online mortgage application was one of the reasons the bank holding company had a 74% increase in originations in the first quarter.

Major servicers sent a third wave of checks on Friday to borrowers who were harmed during the foreclosure process.

The Department of Housing and Urban Development has approved a $1.7 billion investment plan designed to assist Hurricane Sandy victims in New York State.

There are at least 50 different credit score models around.