Flagstar, which owns roughly $69 billion in mortgage servicing rights, said it has already provided the CFPB with documents and “other information.”

On Wednesday, shares of Altisource Asset Management Corp. were selling for $697 compared to a 52-week high of $1,209.

“BofA did a poor servicing job for us,” said Ginnie Mae President Ted Tozer.

A few months back, merger talks between Prospect and Caliber Home Loans broke down. To date, both companies have declined to discuss the matter.

Warehouse lending consultants told IMFnews that many originators turned profitable after the first quarter, but are not making as much as they earned this time last year.

Written bids are due by Wednesday, Aug. 27 with the closing coming by the end of October. LoanCare is listed as the subservicer.

Altisource shareholders are not happy campers these days. The firm’s stock is trading at $91 compared to a 52-week high of $171.

A fair question to ask is this: If DOJ goes after Mozilo, why not go after the owners of Ameriquest/Argent which created so much of the faulty subprime product that Greenwich securitized?

The Financial Accounting Standards Board has announced changes to the way it accounts for government-backed mortgage loans upon foreclosure. The change, which is being made through FASB’s rule, “Receivables – Troubled Debt Restructurings by Creditors,” is aimed at reducing diversity in the accounting treatment of FHA and VA loans that have been subject to foreclosure, according to FASB’s Emerging Issues Task Force. The EITF ...

The second-quarter rebound in mortgage profits was linked to an increase in new lending and loan sales.