Servicing

A judge in New York approved a $40 million settlement in an MBS class-action lawsuit against individuals formerly affiliated with now-bankrupt Lehman Brothers Holding.

Freddie Mac purchased $30.7 billion in residential mortgages from lenders in May, up 19% from April.

A consumer protection clinic has been started by the California mortgage settlement monitor at the UC Irvine School of Law to help ensure state homeowners receive the proper mortgage relief as promised from the nation’s five largest servicers.

Pity the poor loss mitigation staffs at the mortgage servicers everywhere—they’re damned if they do and damned if they don’t.

A loan officer for a Florida mortgage company was sentenced to more than four years in prison for pleading guilty to committing wire fraud in a $9.2 million mortgage fraud scam.

OK, one borrower wrote his lender he couldn't make his mortgage paymentbecause he'd been bitten by a spider. That can happen to anyone, right? But he didn't make his payment the second or third month, either.

Old Republic International Corp. said it has withdrawn the spinoff of its mortgage insurance and consumer credit indemnity businesses into a separately traded company called Republic Financial Indemnity Group.

California pending home sales for May were flat from April, but posted double-digit gains from a year ago for the fourth straight month.

Only hours after regulators released federal guidelines detailing how much homeowners would receive for wrongful foreclosure actions due to banks' mortgage servicing failures, consumer advocates were up in arms.

Major servicers are in various stages of setting up their systems and training personnel to provide struggling homeowners with a single point of contact that they can rely on as they go through the loan modification process.