Serious Mortgage Delinquency Declines
The serious delinquency rate on first mortgages and junior liens moved lower last month and was also improved from a year earlier. Consumer delinquency plunged in Los Angeles.
Class Action Seeks to Shelter Strategic Defaulters
Class action certification is sought on a lawsuit filed on behalf of a borrower whose Florida property was foreclosed on and is now being sued for a deficiency balance even though he has moved to another state.
Nationstar Affiliate Cutting Mortgage Jobs
A financial services firm is unloading mortgage assets and eliminating mortgage jobs in North Texas. The company is affiliated with Nationstar Mortgage LLC -- which, itself, is laying off North Texas employees.
Biggest Mortgage Lenders Make Healthy Gains
Home lenders saw a healthy quarter-over-quarter increase in mortgage production -- with some companies making bigger gains than others. There was some jockeying for position among the top-10 players.
Servicing Off at Ocwen, U.S. Staffing Sinks
Although originations edged up at Ocwen Financial Corp., the servicing portfolio shrank. U.S. staffing was down, though offshore employment soared.
Nationstar Reducing Servicing Staff
Increased efficiency within its residential loan servicing division has Nationstar Mortgage LLC cutting mortgage jobs in three states.
Bank Sues BofA Over Handling of Servicing
A small financial institution has filed a lawsuit against Bank of America Corp. over its handling of the servicing of loans acquired from Countrywide Home Loans.
Mortgage Lenders Report Strong Activity
One mortgage lender has experienced record origination activity thanks to its correspondent division, while another lender that made a recent wholesale acquisition is also reporting record activity.
MLOs Among 100s of Planned Hirings at Citizens
With some of the proceeds from an anticipated initial public offering, Citizens Financial Group Inc. plans to hire hundreds of sales people -- including mortgage loan originators.