Mortgage defaults

A UBS Group AG unit suffered a setback in a $2 billion lawsuit over allegedly defective mortgages after a judge said it violated contracts with three mortgage-backed securities trusts.

Affiliates of Goldman Sachs, Lone Star Funds and Neuberger Berman are among the winners of Fannie Mae’s latest nonperforming loans auction.

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.

As the volume of maturing commercial mortgages has spiked, so has the number of loans transferred to special servicing when they fail to pay off.

Prepayment activity declined during July in spite of the low rates that added to the number of borrowers who could refinance, Black Knight Financial Services said in its "First Look" data release.

The share of homeowners who owe more than their house is worth remains above 10% nationwide, according to data from Zillow's second quarter Negative Equity Report.

Macy's decision to shutter another 100 of its department stores could impair some $3.64 billion of securitized commercial mortgages, according to Morningstar Credit Ratings.

A federal appeals court said an older version of a Nevada law that stripped lenders of their first deed of trust when a homeowners' association forecloses on a property is unconstitutional.

Ditech Financial will lay off nearly 80 employees in Georgia as it closes an office in the Atlanta metropolitan area.

LM Funding swung to a net loss from last year amidst ballooning expenses and lower interest income from delinquent association fees.

The delinquency rate for mortgages on residential properties during the second quarter dropped to the lowest level since 2006, the Mortgage Bankers Association reported.