MSR

From debating the future compliance landscape to developing a digital mortgage strategy, here's a preview of the top issues, ideas and themes on tap when the industry convenes in Denver for the Mortgage Bankers Association's Annual Convention & Expo.

Bank of America set aside $100 million in its reserves for representation and warranty claims ahead of a pending settlement to resolve legacy mortgage issues.

Ocwen Financial Corp. is settling allegations by Alabama and Minnesota that it engaged in improper mortgage activities, bringing the total of states it has settled with to 17.

JPMorgan Chase reported a rise in value of its mortgage servicing rights despite lower originations in this year's third quarter.

Select Portfolio Servicing grew its mortgage servicing rights portfolio by over 14% in the second quarter by targeting opportunities in the nonagency loan market.

Incenter Mortgage Advisors is brokering on behalf of an unnamed mortgage banker an almost $10 billion mortgage servicing rights package that includes $870 million in loans with hurricane exposure.

Ocwen Financial Corp. received more breathing room on the legal front as the Securities and Exchange Commission is not pursuing an enforcement action against the company regarding its debt collection practices.

Ocwen Financial reached a settlement with 10 states under which it can't acquire servicing rights for eight months but will not face any financial penalties.

Vandy Fartaj, the firm’s chief capital markets officer, says a novel deal structure allows the real estate investment trust to issue additional term notes its portfolio of mortgage servicing rights grows.

The portfolio of conforming loans is currently being subserviced by Nationstar Mortgage Holdings on behalf of Seneca Mortgage Investments.

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.

Test your knowledge of these key terms from the servicing sector of the mortgage industry.

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.