Mortgage defaults

Mortgage servicing has undergone a dramatic transformation in response to the housing crisis, creating an environment where a focus on the consumer will define how servicers approach their business and regulators oversee their operations.

Zais Financial Corp. has begun to quantify the effects that the major flooding across Louisiana had on its Baton Rouge-based mortgage banking subsidiary, GMFS.

The Federal Trade Commission has obtained a court order barring the owners of several Florida companies that operated under the guise of being law firms from offering mortgage loan modification and debt relief services.

The Department of Housing and Urban Development has released the details of its next nonperforming residential loan sale through the Distressed Asset Stabilization Program.

Commercial and multifamily mortgage delinquency rates remained low during the second quarter, although two lender categories reported an increase, according to the Mortgage Bankers Association.

Colony Starwood Homes has sold a portfolio of 1,675 nonperforming loans, as it winds down its business in the space.

The first residential mortgage-backed securities class rated by Fitch Ratings post-crisis has paid off, the ratings agency said Monday.

Fitch has taken a slightly dimmer view of Midland Loan Services' ability to workout distressed commercial mortgages.

MountainView Servicing Group is the exclusive adviser for the sale of a nonrecourse servicing portfolio of Fannie Mae and Freddie Mac loans.

The California State Assembly approved legislation Monday that would expand the rights of a deceased homeowner's surviving loved ones, including widows, widowers and other heirs.