Servicing

The Federal Housing Administration announced plans late Friday to expand a program that encourages the sale of distressed mortgages to new investors.

Some industry officials are urging the Consumer Financial Protection Bureau to use its ‘exemption authority’ to exclude Fannie Mae, Freddie Mac, and FHA loans from its LO compensation proposals.

Visit the office of John O'Brien, register of deeds in South Essex County, Massachusetts, and he'll eagerly show you stacks and stacks of documents. He calls it a crime scene.

Bank of America will lay off 675 employees in Florida as part of the bank's broader plan to reduce its head count.

A major shakeup occurred last month in the senior ranks at nonperforming loan investor Arch Bay Capital with CEO Shawn Miller parting ways with the company.

Two Northern California real estate investors agreed to plead guilty for their roles in a conspiracy to rig bids and commit mail fraud at public real estate foreclosure auctions.

If you’re wondering why the nonperforming loan auction market hasn’t been more robust – especially given the fact that banks and the GSEs are sitting on billions of dollars in defaulted home mortgages – you can blame accounting rules, or so we’re told.

ViewPoint Bank in Plano, Texas, is selling its home lending unit to a Dallas-based nonbank lender as part of its continued shift from a thrift to a commercial bank.

A debtor in bankruptcy proposes a Chapter 13 plan to strip a second mortgage as unsecured and is found to be still in good faith, the CFPB proposes rules that could make life more difficult for lenders and originators, five states loom large in foreclosures, two foreclosure-related bills move forward in California, and various types of mortgage-related fraud allegations in different areas continue to move through the court system.

The Federal Reserve Board unanimously approved the release of a set of proposals that would raise banks' minimum capital requirement to 7%.