Servicing

A federal court panel said Bank of America can't consolidate multiple lawsuits involving losses suffered from the collapse of Taylor Bean & Whitaker and Colonial Bank in a multibillion-dollar fraud.

Is 68 years young the time to re-enter the wild and wooly world of mortgage banking? Answer: It is, if your name is Bill Starkey Sr. and you feel the current “down market” offers so much opportunity that it can’t be ignored.

Regardless of your position on the use of MERS as a nominee for the lender, creating a shared, accessible database of record is another reason why lenders and servicers have worked diligently to certify the accuracy of the data entered in the MERS database.

Franklin Credit Management Corp. has closed on the acquisition of a mixed performing and nonperforming loan portfolio with an aggregate unpaid principal balance of approximately $100 million.

Costco has started to offer mortgages through approved lenders and heavily marketing the program to its 68 million members.

As of April, the national shadow inventory was 1.5 million units, which represents a four-month supply.

Average fixed mortgage rates reversed course and inched up in Freddie Mac’s weekly survey, ending a run of record lows in recent weeks.

If CFPB is successful in killing nonbank brokers who’s to say the agency won’t go after nonbank servicers next? That would mean all those REITs buying MSRs might be in danger.

It’s one thing when special interests declare “the end” of the housing debacle, but it’s another when such an august organization as the Joint Center for Housing Studies at Harvard University calls the bottom.

U.S. consumers owed $8.995 trillion on their residential loans at the end of March – the lowest debt figure recorded in almost five years, according to new figures compiled by National Mortgage News and the Quarterly Data Report.