Mortgage defaults

Mortgage loan delinquencies fell to their lowest level recorded since March 2007, according to Black Knight Financial Services.

The Consumer Financial Protection Bureau is expected to finalize its second round of mortgage servicing rules in July, a top agency official said. Laurie Maggiano, a program manager for servicing and secondary markets at the CFPB, also offered insights into the bureau's long-anticipated rulemaking on debt collection.

Fannie Mae has completed its latest Credit Insurance Risk Transfer transaction, the 10th deal since the program's inception in 2013.

Its results were affected by the costs related to shutting the delinquent loan services business.

Its first-quarter earnings fell nearly 50%, to $69 million, as revenue declined and it took a $13 million loss on debt repurchases.

Freedom Mortgage has agreed to pay $113 million to settle government allegations that it failed to comply with Federal Housing Administration requirements for originating and servicing FHA-insured loans.

First Horizon National in Memphis reported improved quarterly earnings that reflected higher revenue.

The number of new foreclosure filings in the first quarter stood at their lowest level in more than nine years, RealtyTrac reported.

Fannie Mae is selling four large pools of nonperforming loans which have a total balance of $1.5 billion.

The number of seriously delinquent mortgages reached its lowest level in over eight years, helped by new job creation and higher wages, CoreLogic reported.

New lender disclosure requirements aren't just disrupting the market for private-label mortgage bonds; they could also impact the market for bonds that transfer credit risk of mortgages insured by Fannie Mae and Freddie Mac to the private sector.

Eight years after subprime mortgages all but disappeared, U.S. buyers with bad credit can still own homes.

Banc of California in Irvine has agreed to sell its wholly owned investment adviser subsidiary, The Palisades Group.

According to the American Bankers Association's quarterly report on consumer delinquency trends, late payments on home equity loans and home equity lines of credit have dipped below 15-year averages for the first time since the Great Recession.

Defaults on commercial mortgage-backed securities declined for the fifth straight year in 2015, according to Fitch Ratings.

American International Group Inc.'s mortgage insurer, United Guaranty Corp., filed for an initial public offering as the parent company faces sustained pressure from activists to split up.

Military families and service members are submitting debt collection complaints to the Consumer Finance Protection Bureau at twice the rate of other consumers.

Royal Financial in Chicago has agreed to sell $26 million of distressed assets associated with its pending purchase of Park Bancorp in Chicago.

The California Supreme Court's recent ruling that a borrower has the right to challenge a wrongful foreclosure opens the door for a tighter mortgage market while leaving key questions about future borrower lawsuits unanswered.

Freddie Mac has sold $1.4 billion in deeply delinquent, nonperforming loans.