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.

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.

In order for the mortgage industry and its technology to evolve in the future, lenders and servicers must redefine their expectations for connectivity and demand more open integrations between the systems they use.

Depositories still dominate home lending, but nondepositories' market share is the highest it has been in at least two decades. Here's why.

To commemorate the 40th anniversary of National Mortgage News, we look to the future of the mortgage industry — a future that lies at the intersection of people, policy, technology and capital.

Over the next 40 years, the rate of homeownership is likely to continue to decline further as changes in demographic trends, increased regulation and stagnant incomes make that dream harder to achieve.

It was 1976, the year of the U.S. Bicentennial, the dawn of Apple Computer and supersonic commercial flight aboard the Concorde jet. The average rate for a 30-year mortgage was 8.87% and the median sales price of existing homes was $38,100. And in an apartment on Manhattan's Upper East Side, National Mortgage News was born.

From helping to create one of the first loan origination systems to setting the stage for the financial crisis, these 10 people left an indelible mark on the mortgage industry. But where are they now?

If the past 40 years has revealed anything about the mortgage industry, it's that change is constant, and inevitable. From the future of Fannie and Freddie to the role technology will play in underwriting, here's a look at 10 bold predictions that will shake up the mortgage industry.

Here's a look at some of the mortgage industry's most pioneering ideas and trends that have created legacies that have outlasted the companies that established them.

Emboldened by supportive comments from presidential hopeful Hillary Clinton, community development banks are asking regulators for more leniency in areas such as disclosure fees and Bank Secrecy Act enforcement.

The $29 billion-asset company said in a regulatory filing Thursday that the "needs to improve" rating will likely restrict its ability to make acquisitions and open branches.

Fannie Mae and Freddie Mac can still manage their risk exposure even after reducing or eliminating "loan level price adjustment" fees.

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 Mortgage Bankers Association has long been a staunch defender of the mortgage interest deduction. But the group's president and CEO now says he's open to Congress reducing, or even eliminating, the tax break.

Bank of America is approaching the consumer-relief target set in its mortgage settlement with the Department of Justice and six states, according to the settlement's monitor.

Plenty of banks have ended their federal loss-share deals early, but despite the incentives to wind them down, plenty more still have these crisis-era arrangements in place. It may be due to varying deadlines, mistakes calculating loan values or worries that they still might need the coverage for home equity lines.

The National Association of Realtors is urging policymakers to implement reforms meant to qualify more condominium buyers for Federal Housing Administration loans.

Regulatory infighting over bond loans offered by down payment assistance programs has the potential to curtail lending to first-time buyers and do real damage to homeownership.

Ocwen Financial Corp.'s loan servicing subsidiary has reached a settlement with the Washington State Department of Financial Institutions' consumer services division over the servicer's practice of using unlicensed offshore companies.