Loss mitigation

The Supreme Court gave borrowers the path to file a rescission notice without going to court, but experts expect more banks to initiate legal proceedings to stop rescissions they see as frivolous.

Altisource Portfolio Solutions promoted John Vella to the new position of chief revenue officer in a bid to grow beyond its relationship with embattled former parent Ocwen Financial.

MGIC on Tuesday reported an increase in its quarterly earnings, as the company slashed its losses and boosted net premiums.

Michigan homeowners facing a loss of their houses to foreclosure will find it easier to solve their financial problems as a result of a package of bills signed by Gov. Rick Snyder.

A recently launched program in New York state is helping distressed borrowers avoid foreclosure.

The former vice president of Appalachian Community Bank in Ellijay, Ga., has been found guilty of a fraud that helped force the bank to close in March 2010.

Facing the prospect of losing its license in California, Ocwen would be wise to settle its probe by state regulators in a timely manner, observers said. If it doesn't, the mortgage servicer could lose significant revenue and might even face a cash crunch.

MGIC Investment Corp. said on Friday that its delinquent inventory dropped slightly in December compared to a month earlier.

Late payments on home equity loans fell in the third quarter while delinquencies on home equity lines of credit rose slightly, the American Bankers Association said in a report issued Thursday.

SecurityNational Mortgage has made its final payment on a $4.3 million financial crisis-era settlement with Wells Fargo.

Social media broadly distributes information to users of financial services, yet also creates a new sphere for potential compliance risks, especially for servicers.

The nation's largest banks have attacked their delinquent loan portfolios with gusto, but they may hit some barriers in 2015. The market for nonperforming loans is still robust with about $60 billion estimated to change hands in 2014.

The Servicing Trailblazer Award acknowledges a servicer or vendor initiative, product or platform that uses technology to optimize mortgage portfolio management and ensures efficient communication with borrowers, investors and the mortgage servicing support industry. Learn about this year's finalists and see who won the 2014 MT Award.

The $4 trillion in mortgages serviced by the largest financial institutions slightly improved in the third quarter with more loans back in performing status and fewer in serious delinquency, a regulatory report said Friday.

The first listed Australian landlord of U.S. housing is hunting for rundown properties in the New York City area as prices hit new highs.

With some proposals still outstanding, mortgage bond market participants are concerned that eminent domain attempts would spread if a municipality makes inroads with a proposal.

San Francisco may become the biggest U.S. city to use its development powers to help homeowners avoid foreclosure, partnering with another California community whose own plan has come under fire from investors.

The days of megadeals worth tens of billions of dollars for mortgage servicing rights are over.

Borrowers who have made five years of payments on their modified loans will be eligible to earn $5,000 in the next year to reduce their outstanding balance.

Principal reductions for underwater borrowers would cost approximately $89 billion, according to Black Knight.