An investor in Ocwen, for instance, that bought into the stock two years ago at $60 a share is now facing a loss of 96 percent.

The mortgages have seasoned for an average of 14 months and have pre-TRID application dates.

Good news for mortgage bankers: gain-on-sale profit margins are on the rise.

HUD’s Single Family Policy Handbook authorizes lenders to order testing or remediation to ensure that the property’s public-water supply has acceptable levels of contaminants.

One executive who’s involved with the working group said the new guidance from the due diligence firms will help the rating agencies identify "material" risk...

MorVest has represented only sellers of mortgage servicing rights, but that may change...

When the nonbank first unveiled the stock buy-back program, its shares were trading at $8.61.

John Shrewsberry, a senior vice president at Wells Fargo, said the bank has focused on adding jumbo mortgages to its portfolio. “They are very safe loans,” he said. “I think we’ve got four basis points of loss coming through that portfolio.”

K&L Gates’ Financial Services Practice Decimated, Partners Bolt for Mayer Brown. K&L Gates’ profitable consumer financial services practice took a major hit after a group of partners and associates joined rival Mayer Brown late last month.Laurence Platt, Phillip Schulman, Steven Kaplan, Melanie Brody and Jonathan Jaffe led the group. Ten other partners from their former firm joined them later. They are Costas Avrakotos, David Beam, Holly Spence Bunting, Krista Cooley, Eric Edwardson, Kristie Kully, Ori Lev, Lauren Bergen Pryor, Stephanie Robinson and David Tallman. The group will be based primarily in Mayer Brown’s Washington, DC, office. Kaplan will join Tom Delaney as a co-leader of Mayer Brown’s Financial Services Regulatory & Enforcement practice. “The decision to move from our previous firm has been ...

The FHA’s Home Equity Reverse Mortgage Information Technology (HERMIT) system will shift to a new vendor-operated host data center beginning March 21, 2016. Reverse Market Insight (RMI), a provider of data, analysis and portfolio valuation services for the reverse mortgage industry, has been tapped to manage, maintain and operate HERMIT. Launched in October 2012, HERMIT is an online, web-based automated system that monitors and tracks the FHA’s Home Equity Conversion Mortgage portfolio and automates insurance claim payments. HERMIT will shut down temporarily from 7 p.m., March 16, to 8 a.m., March 21, in order to complete the transition. The FHA said there would be no changes to the system’s functionality during transition to the host data center. User IDs and passwords for accessing HERMIT will remain unchanged. Following HERMIT’s transition to the ...