MSR

PHH Corp. lost $46 million in the second quarter as it continues efforts to exit mortgage origination and servicing and instead focus on subservicing.

New York Community Bank, the parent of Ohio Savings, will slash more than 200 jobs in Greater Cleveland next month when it gets out of the mortgage business.

Ocwen Financial Corp. recorded a $44.4 million net loss in the second quarter related to its court battles and other expenditures, including costs related to its exit from correspondent lending.

Ocwen Financial finalized the deal to sell its interests in $110 billion of nonagency mortgage servicing rights to New Residential Investment Corp. for total consideration of $400 million.

Bayview Asset Management has entered into an agreement to acquire Pingora Holdings, an indirect subsidiary of Annaly Capital Management.

PHH Corp. transferred ownership of the largest chunk of its remaining mortgage servicing rights — its Fannie Mae portfolio — to New Residential Investment Corp.

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Mortgage delinquencies declined 7% in May compared with April, a partial recovery from the 13% increase of the previous month.

PHH Corp. completed the sale of its Freddie Mac mortgage servicing rights portfolio to New Residential Corp. for $102 million, but the sale of the Fannie Mae MSRs will take place in the third quarter.

Mortgage delinquencies increased 13% in April from March, but the calendar and seasonality were the primary reasons for the spike, said Black Knight Financial Services.

Two Harbors Investment Corp. is spinning out its commercial real estate lending business to a newly created real estate investment trust, Granite Point Mortgage Trust Inc.

Incenter Mortgage Advisors is brokering a $2 billion portfolio of mortgage servicing rights on agency loans with imaged files on behalf of an undisclosed seller.

PHH Corp.'s first-quarter net loss more than doubled as the troubled mortgage company dumps its origination unit and servicing rights and rebuilds as a subservicer.

In an attempt to show it went all out to help struggling homeowners, the embattled mortgage servicer Ocwen Financial provided an unusual level of detail about foreclosures it says regulators have deemed "inappropriate."

Mid America Mortgage has purchased a $2.7 billion portfolio of Ginnie Mae mortgage servicing rights that its subservicer, LoanCare, took possession of Tuesday.

In an echo of the rescue deals of 2007 and 2008, New Residential's CEO framed the transaction as something undertaken to benefit the entire industry.

Growth outside of its residential mortgage business contributed to Flagstar Bank beating first-quarter earnings estimates, company executives said.

Incenter Mortgage Advisors is brokering an $898 million alt-A bulk servicing rights portfolio for an undisclosed bank.

Incenter Mortgage Advisors is accepting bids on behalf of an independent mortgage banker for a $326 million portfolio of Fannie Mae, Freddie Mac and Ginnie Mae mortgage servicing rights.

Mortgage bankers' first-quarter earnings should be down from the fourth quarter in tandem with the reduction in origination volume.