Consumers said they received conflicting and confusing foreclosure notifications during the loss mitigation review process...

State regulators have been particularly concerned about growth in recent years by nonbank servicers such as Ocwen Financial, the largest subprime servicer. Ocwen, of course, is now shrinking.

In after-hours trading Wednesday, its share price was down 20 percent to $2.25.

A spokesman for BofA declined to provide any color on the mark, but provided a link to past financial filings where the bank talks about its hedging activities which are based on “model and other cash flow” assumptions.

The nonbank share of the market for servicing mortgages in Gnnie Mae MBS increased from 35.05 percent at the end of the first quarter of 2015 to 46.73 percent at the end of the first quarter of 2016.

The delinquency rate declined by 8.4 percent in March compared with February and was down 12.4 percent on an annual basis.

The average daily trading volume in agency MBS fell to $189.4 billion in March, the lowest reading of the year, and a sign that liquidity may still be an issue, depending on which seat you’re in. According to figures compiled by the Securities Industry and Financial Markets Association, the trading numbers for 2016, so far, haven’t exactly lit the world on fire. In January and February, the readings were $195.1 billion and $201.4 billion, respectively. Last year, the best reading was...

Pingora Asset Management, one of the largest investors in “flow” mortgage servicing rights arrangements, is about to become the property of the nation’s largest real estate investment trust focused on the MBS market, Annaly Capital Management, New York. The purchase of Pingora’s parent, Hatteras Financial, Winston-Salem, NC – a deal valued at $1.5 billion – was unveiled last week, but one important facet regarding Hatteras garnered little in the way of press attention: that it just happens to own Pingora, which at last check laid claim to roughly $76 billion in MSR assets. However, not all of the servicing rights will become...

Then again, I’ve talked to recruiters who believe that good LOs are worth every nickel as long as they bring in the business.

More than a year after state regulators proposed prudential standards for nonbank servicers, there’s no specific timeframe for releasing final standards. Officials at the Conference of State Bank Supervisors note that they are hoping for a coordinated approach with federal entities to regulate nonbank servicers. In March 2015, the American Association of Residential Mortgage Regulators and CSBS proposed standards for nonbank servicers. The proposal included baseline ...