OneWest Bank’s decision to sell $78 billion in unpaid principal balance of mortgage servicing rights and related servicing advance receivables to Ocwen Financial continues the trend of banks unloading servicing with special servicers. However, the deal is unique in that OneWest’s owners have been looking to cash out of the entire banking operation for a while. Ocwen announced late last week that it will buy the MSRs and servicing advance receivables for $2.53 billion, with the sale expected to close in stages this year. “We have entered into a definitive agreement with Ocwen Loan Servicing to sell our third-party mortgage servicing rights for forward mortgages in order to sharpen our focus on developing a leading regional banking franchise,” said Joseph Otting, president and CEO of OneWest. The bank was...

Because of the "qualified mortgage" rule WesBanco may kill a charitable home loan program that has been in place since 1951.

While some banks have started to securitize jumbo mortgages, the vast majority of jumbo originations remain in portfolio.

Yet another plan to reshape the mortgage market has been published, this one from noted housing economist Mark Zandi, and Ellen Seidman, once the nation's top S&L regulator.

MBA pushes for GSE AU engines to be synchronized. Meanwhile, a factoid of mortgage history: Treasury chief Paulson wanted Fannie and Freddie put in receivership.

With rates rising and refis falling, will certain mortgage companies head for the exits? And if they do, will they get too greedy on the sale price?

The treatment of balloon loans under new federal rules is one example where regulation is taking a broad brush approach that disadvantages community banks.

Former GSE regulator James Lockhart noted that only one “catastrophic” guarantor is needed, though he stressed that “you need more than one issuer.”

Residual income is the amount of money left after deducting a borrower’s housing and installment debt from gross monthly income.

PennyMac Financial must be rolling in the dough: the firm is handing out huge stock awards to its top officers.