The congressman said the decision to sell thousands of loans at a time at sharp discounts to the highest bidder “continues to enrich Wall Street at the expense of neighborhoods and community-based organizations.”

Or as Marc Savitt of the National Association of Independent Housing Professionals put it: “Nothing will pass as long as Obama still has a pen…”

While nonbanks have taken a much bigger share of the servicing market, the top-ranked subservicer is Cenlar, a New Jersey-based savings bank.

Rushmore is licensed in all 50 states, Washington DC, and Puerto Rico. It has offices in Irvine, Dallas and San Juan, PR, where it services roughly $1 billion in assets...

“We’ve found all kinds of different violations,” said CFPB Assistant Director for Supervision Policy Peggy Twohig.

Standard & Poor’s has removed Ocwen Financial form its “CreditWatch” list.

A $1.5 trillion year is doable: according to survey figures compiled by Inside Mortgage Finance, residential funders originated $805 billion in the first half.

Marketplace lending – otherwise known as peer-to-peer lending – is becoming more of a “thing” for institutional investors, hedge funds, venture capital firms, and even banks these days, but there are plenty of risks lurking in the bushes as well as other operational challenges, according to ratings service analysts. “While marketplace lending has enjoyed increasing growth and acceptance, Standard & Poor’s Ratings Services believes a measured and cautious approach is warranted to properly evaluate this segment, which exhibits unique and heightened risks,” S&P credit analysts Ildiko Szilank and Timothy Bartl wrote in a new report. Among the risks they identified is...

The delinquency rate for loans backing commercial MBS was fairly stable in August, according to reports from Fitch Ratings and Trepp. Although Fitch reports that loan delinquencies fell one notch to 4.52 percent from the previous month, Trepp data show that the overall CMBS delinquency rate inched upward to 5.45 percent in August, from 5.42 in July. Late payment balances fell...

Are you ready for a government shutdown, one that could screw up the mortgage market? If not now, maybe later in the year...