Secondary

"Servicers now face compensatory fees, not for mistakes or unreasonable delays, but simply as the cost of doing business," Mortgage Bankers Association President David Stevens says.

The largest U.S. bank's apartment loan business is mushrooming, aided by Fannie Mae and Freddie Mac retrenching. Now JPMorgan is refocusing on a market where, surprisingly, it lags: New York.

This tops a previous bid for the parent of mortgage warehouse provider Southwest Securities by $1 per share.

New York State approved an agreement between bond insurer MBIA and Nomura Holdings that ended claims related to mortgage-backed securities.

GSE regulator says Fannie and Freddie are responsible for monitoring servicers.

Radian Group is now the leader in insurance-in-force but MGIC says it is not concerned about market share.

Ocwen Financial Corp. is seeking to raise about $136 million by selling notes tied to fees from managing a pool of government-backed loans.

A New York startup vows to reduce risk and bring transparency and regulatory oversight to a much-hyped investment class.

Canadian covered bonds now benefit from increased disclosure about the mortgages behind them and more certainty about recourse to the cover pool in the event of a default. But so far, this broader appeal hasn't resulted in increased issuance.

Housing and Urban Development Secretary Shaun Donovan says it's important for investors in mortgage-backed securities to receive a fair price for seized mortgages.