Over $1 Billion In Agency MSRs For Sale
Bids are being accepted on two portfolios of mortgage servicing rights with more than $1 billion in agency loans.
Backdating Prompts Ocwen Servicer Downgrade
Allegations that Ocwen Financial Corp. backdated letters to distressed borrowers has prompted a downgrade to its servicing subsidiary's rating.
Serious 1st Mortgage Delinquency Up Again
Serious delinquency on first mortgages deteriorated for the second consecutive month. Also moving higher was the rate on second mortgages.
Ocwen Accused of Backdating Borrower Letters
Ocwen Financial Corp. has been accused of serious issues in its servicing practices including potentially backdating hundreds of thousands of borrower letters.
Home Equity Lending Trends
Investor interest in revolving home-equity lines is growing as compliance burdens on closed-end home-equity products increase. One servicing system is being touted as a single solution for all types of home-equity and first lien products.
GSE Mods Ok On FL Loans Delinquent Over 2 Years
Florida borrowers who are more than two years past due on their government-sponsored enterprise mortgages will have an opportunity to modify their loans.
Correspondent Originations Surge at SunTrust
Even though residential loan production was down for the retail channel, SunTrust Banks Inc.'s correspondent acquisitions jumped by a third -- pushing overall originations up.
5th 3rd Ekes Out Gain in Mortgage Originations
Fifth Third Bancorp reported a small quarterly gain in residential loans production. Its mortgage investment portfolio grew, but its servicing portfolio was off.
Proprietary Modification Volume Up, HAMPs Slip
An increase in the number of monthly proprietary loan modifications completed more than offset a reduction in the number of government-supported modifications.