At 7.59 percent, the hedge fund is now the third largest institutional investor in PHH.

The IMA package – top heavy with California and Florida loans – includes $110.8 million of Ginnie Mae receivables.

Just because a GSE uses a third-party vendor to assess the risk of seller/servicers as counter-parties that doesn’t mean the GSE – or their management – is off the hook if something goes awry.

A new poll from IMFnews and Inside Mortgage Finance suggests that lenders are hardly optimistic that the R&W changes will amount to anything.

The three biggest servicers in the group – Wells Fargo, JPMorgan Chase and Bank of America – all reported significant declines in servicing income.

Mortgage bankers are concerned about what the CSBS is up to and how binding its recommendations will be.

The original consent order was dated Dec. 5, 2012, establishing the compliance monitor and more.

According to figures recently compiled by RealtyTrac, 26,947 single family homes were flipped nationwide in the third quarter.

Recent court rulings in Washington, DC, and Nevada allowed foreclosures brought by homeowner associations over unpaid dues to extinguish mortgage liens, increasing the risk of loss for investors in non-agency MBS and single-family rental securitizations, according to Moody’s Investors Service. Although both jurisdictions are relatively small in the grand scheme of things, other courts could adopt the same interpretations, the rating service said. Nevada has already seen some 1,000 similar cases, and more homeowner and condo associations are like to bring similar lawsuits. In Nevada, the court decided...

The Federal Housing Finance Agency this week unveiled a policy alteration that would potentially allow a foreclosed homeowner to purchase a home – including one he/she lost due to arrears – from the real estate owned inventory of Fannie Mae or Freddie Mac. The change will permit Fannie and Freddie to sell existing REO properties to any qualified purchaser at the property’s fair-market value, as determined by the GSE, according to the FHFA.