BofA Has Biggest Drop in Complaints
Complaints filed against mortgage firms have declined by more than a quarter over the past year. Bank of America Corp. saw the biggest improvement, while Nationstar Mortgage LLC had the steepest incline.
Dallas Delinquency Sinks
Home loans that are regarded as seriously delinquent diminished last month. The Dallas market saw consumer credit performance improve more than in any other major market.
Mortgage Servicers Increase Contact With Late Payers
Home loan servicers are stepping up contact with mortgage borrowers who don't make payments on the due date.
Citi Production Tumbles, Delinquency Down
Mortgage originations have plummeted by more than 70 percent from a year ago at Citigroup Inc. and were down by more than a third from the prior quarter. But the lender improved performance on its mortgage portfolio.
New Foreclosure Law in Maine
The governor of Maine has signed into law legislation that promises to improve the foreclosure process in the state.
MSRs on Nearly $900 Million in Loans Up for Bid
Mortgage servicing rights on nearly $900 million in agency home loans have been put up for bid.
Loan Modifications Slow to a Trickle
The monthly volume of completed loan modifications sank to smallest number in more than four years -- reflecting a decline in distressed and negative-equity loans.
Mortgage Originations Sink at Wells Fargo
New mortgage business tumbled to the lowest level in more than a decade at Wells Fargo & Co. A decline in junior lien holdings more than offset an increase in first mortgage assets.
Chase Shrinks Mortgage Business
Home lending fell to the lowest level during any quarter in at least 11 years at JPMorgan Chase & Co. The company also cut its servicing portfolio, reduced its mortgage assets and eliminated mortgage jobs.