Mortgage defaults

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.

Two senior GOP lawmakers are warning regulators against preferential treatment for housing advocates and nonprofits in sales of nonperforming, government-guaranteed mortgages.

Mortgage loan delinquencies improved from their spike in January to reach the lowest level recorded since April 2007, according to Black Knight Financial Services.