Black Knight has acquired HeavyWater, a developer of artificial intelligence and machine learning technology for the mortgage industry, and plans to incorporate the startup's borrower data verification and other automation capabilities into its existing product suite.

Citizens Bank's $511 million acquisition of Franklin American Mortgage will beef up the bank's servicing portfolio and diversify its origination business at a time when higher interest rates have put a damper on refinance volume.

The Rhode Island regional agreed to buy Franklin American Mortgage. With the acquisition it would have one of the nation's 15 largest bank-owned mortgage platforms.

Ocwen Financial Corp.'s Chief Financial Officer Michael Bourque has resigned, becoming the second top executive to leave the company after it agreed to acquire PHH Corp.

Capitol Federal Financial has mostly relied on mortgages throughout its history. Its acquisition of a commercial lender will change that.

Mutual of Omaha Bank's purchase of Synergy One Lending will add reverse mortgages to its product line.

PHH Corp. took a net loss in the first quarter but was able to surpass minimums for net worth and available cash necessary for Ocwen Financial to acquire the company.

Mortgage servicers growing due to acquisitions or the increased value of servicing in the market could remain under pressure if these strategies don't outweigh other rising costs they face.

New Residential Investment Corp. reported a 400% year-over-year increase in net income as its servicing revenue improved dramatically over the previous year.

Ron Faris plans to retire as head of Ocwen Financial and pass on his position to former PHH Corp. CEO Glen Messina around the time Ocwen acquires PHH.