The market for “legacy” mortgage servicing rights has been on ice since earlier this year because of regulatory scrutiny, but there’s a new school of thought that suggests the halcyon days of mega transactions might be over for good. Servicing advisors who work in the MSR market note that the “Lawsky effect” is still being felt by Ocwen Financial and some of its peers, but as time goes on it will be less of a factor. “There’s...

Mortgage delinquencies increased slightly in the second quarter of 2014 compared with the previous quarter, according to the Inside Mortgage Finance Large Servicer Delinquency Index. However, delinquency rates adjusted for seasonal factors showed a decline from the first three months of the year, and the unadjusted rate was down from a year. The total delinquency rate for 23 large servicers, with no seasonal adjustment, hit 6.59 percent at the end of the second quarter, up from 6.52 percent the previous quarter but down from 7.33 percent in the second quarter of 2013. “We have returned...[Includes one data chart]

The U.S. Fourth Circuit Court of Appeals has ruled in favor of Wells Fargo and co-defendant Long & Foster in a class-action dispute involving an affiliated business arrangement. In Minter v. Wells Fargo Bank, NA et al, plaintiffs/appellants Denise Minter, Jason and Rachel Alborough, and Lizbeth Binks brought suit on behalf of a group of consumers alleging that Wells Fargo and Long & Foster Real Estate violated the Real Estate Settlement Procedures Act. Specifically, the plaintiffs alleged that defendants created a joint venture, Prosperity Mortgage Co., to skirt RESPA’s prohibition on kickbacks in exchange for the referrals of settlement service business while failing to disclose this business arrangement to its customers. Here’s...

When consumers were directed to Amerisave’s website, the lender gave quotes based on an 800 FICO score, even where consumers had previously entered a FICO score below 800, the agency said.

“The government presumably feels emboldened from the decisions that it’s been getting, and we anticipate that those will continue in the near future,” one mortgage buyback expert said.

As IMFnews went to press, no other details were available on the transaction, including the identity of the seller or whether the product is “newly originated” or “legacy” in nature.

According to figures compiled by Inside Mortgage Finance, Freedom grew second quarter originations by almost 49 percent, the best sequential gain for any top 10 ranked lender.

Wells Fargo, the nation’s largest servicer, has assigned an 80 basis point value to its residential MSR portfolio, but the nation’s number-two servicer, JPMorgan Chase, has its MSRs booked at 106 bps…

The CSP, formally known as Common Securitization Solutions LLC, does not have a chief executive office or chairman.

The privately held Quicken grew its Fannie/Freddie MBS volume by 18.5 percent from June.