Warning Issued on HELOC Performance
Cracks are beginning to appear in the nation's book of junior lien credit lines, and the problem could grow.
Ocwen Discloses Texas Layoffs
|Pace of HAMP Growth Accelerates
The number of government-funded active loan modifications increased at a pace that was more than double the previous month's.
Among hundreds of mortgage layoffs recently disclosed by Ocwen Financial Corp. are more than 200 at three locations in Texas.
Nearly 5-Year Low for Serious Delinquency
The monthly rate of serious delinquency moved lower, hasn't risen in nearly two years and is at its lowest level in nearly five years. The number of completed foreclosures plunged.
FNF Servicer Rating Raised
Thanks to improvement in its operations compared to its peers, FNF Servicing Inc. saw its mortgage servicer rating improved.
New Business Sinks at Radian
It's been 18 months since new business has been this bad at Radian Guaranty Inc. Delinquency, however, maintained an improving trend.
Short Sale Tax Decision Came Day After Realtor Donation
A decision by the Democrat-dominated California Franchise Tax Board not to tax borrowers involved in short sales came just one day after Realtors donated $500,000 to the state Democratic party.
REIT Acquires Small Servicer
A real estate investment trust has acquired a mortgage servicer out of Texas with a servicing portfolio less than $10 billion.
BofA Cutting Distressed Servicing Jobs
Continued improvement in loan performance has Bank of America Corp. eliminating more positions at California location that handles distressed borrowers.