REO

Nationstar Mortgage is issuing its fifth securitization of nonperforming reverse mortgages, a unique esoteric RMBS class the mortgage servicer has engaged in four previous transactions.

Foreclosure activity dropped year-over-year for the eighth consecutive month in May but remained essentially unchanged from April, according to RealtyTrac.

Foreclosure starts dropped nearly 17% from a year earlier last month, falling to their lowest level in a decade, according to Black Knight Financial Services.

The number of zombie foreclosures, properties in the foreclosure process that are vacant, dropped 30.1% from a year ago during the second quarter, according to RealtyTrac.

It's taken nine years, but the number of U.S. homes in foreclosure has fallen to a level not seen since before the 2008 housing crisis.

Its results were affected by the costs related to shutting the delinquent loan services business.

The number of seriously delinquent mortgages reached its lowest level in over eight years, helped by new job creation and higher wages, CoreLogic reported.

Appraisal management company Solidifi has acquired Linear Title & Closing, a provider of national title searches and mortgage closing services.

Royal Financial in Chicago has agreed to sell $26 million of distressed assets associated with its pending purchase of Park Bancorp in Chicago.

The Securities and Exchange Commission is looking at whether mortgage servicers are boosting profits by prematurely unleashing debt collectors on delinquent borrowers, a person with direct knowledge of the matter said.