Foreclosures

Years after the crisis, fundamental problems in default servicing still exist and in order to move forward, servicers must reimagine their processes to better manage overall volume and spikes in demand.

Bank of America has received approval for additional credit during the first quarter of 2015 from the independent monitor overseeing its compliance with the requirements of its mortgage settlement agreement.

Green River Capital has rolled out a new surveillance service for single-family rental properties called Retail Asset Management & Performance.

The Conference of State Bank Supervisors recently challenged college students to examine how community banks survived the financial crisis, and the contest highlighted innovative strategies used by Main Street banks such as Bank of American Fork in Utah.

Utah's attorney general revived a potential billion-dollar battle with Bank of America Corp. over foreclosure practices after two of his predecessors were charged with corruption for abandoning the fight.

The bankruptcy of Wingspan Portfolio Advisors epitomizes the existential crisis facing default servicing. This once-thriving sector of the mortgage industry now finds itself declining in lockstep with the drop in loan delinquencies and foreclosures.

F.N.B. in Pittsburgh reported higher second-quarter profit as it booked more commercial real estate and business loans.

Stewart Mortgage Information Systems is pulling the plug on its delinquent mortgage services business.

The U.S. mortgage delinquency rate, for loans at least 30 days late, fell 2.9% in June from the previous month, Black Knight Financial Services said in its monthly mortgage performance report.

Regulators gave conditional approval for CIT Group's deal to buy OneWest Bank, paving the way for an institution that would be deemed systemically important, with $70 billion in combined assets.

Synovus Financial in Columbus, Ga., reported higher second-quarter income tied to a lower loan-loss provision.

Creditors of a Dallas-based special servicer and mortgage services firm that filed Chapter 7 bankruptcy this week include technology providers, financial institutions and property management companies.

Foreclosure volume was down 3% for the first six months of 2015 compared with the same time span last year, a new report from analytics firm RealtyTrac found.

The national foreclosure rate in May fell to its lowest level since December 2007 as the housing market showed continued signs of improvement, according to CoreLogic.

NetDirector has upgraded its software to improve the accuracy of verifications of borrowers who are members of the military.

Two mortgage servicers have agreed to join a group of peer institutions in following a series of guidelines to address zombie properties in New York State, Gov. Andrew Cuomo announced Thursday.

The Federal Housing Administration wants to set a hard deadline for servicers to file claims on soured mortgages. Industry executives say it should be manageable — unless foreclosures surge again.

The delinquency rate on commercial mortgage-backed securities rose from May to June, according to Trepp's monthly report.

The share of U.S. home purchases made with cash has fallen to a five-year low as investors pull back from a property market that's rebounding without them.

Unless Congress acts before the end of 2015, homeowners who had their mortgage principal reduced in a loan modification or lost their homes through a foreclosure or short sale will find themselves in this position.