“Eminent domain may be a local matter, but in the context of seizing mortgages, its use would have national consequences,” the four senators write in their letter to Treasury Secretary Jack Lew.

The fast growing Walter Management also will sell $500 million worth of senior notes through a private placement.

Just how big is Wells Fargo's Ginnie Mae market share? At Sept. 30, the bank controlled 31.53 percent of the market. Its closest competitor was JPMorgan Chase with a mere 11.75 percent.

Over the past two years, the FHA endorsed 9,183 loans between $600,000 and $729,750

The Alt A origination estimate is based on the volume of first-lien conventional mortgages with interest rates ranging from 150 basis points over the prime mortgage rate to 300 bps over.

Standard & Poor’s recently published an updated estimate of likely losses stemming from mortgage-related litigation, finding that banks face future costs of $56.5 billion to $104 billion.

A handful of leading industry trade groups told the CFPB they generally support the agency’s recent interim final rule that clarifies the proper compliance with mortgage servicing requirements when a consumer is in bankruptcy or sends a cease communication request under the Fair Debt Collection Practices Act. The interim final rule, issued Oct. 23, 2013, amends some of the mortgage servicing-related provisions in Regulation X (the Real Estate Settlement Procedures Act) and Regulation Z (the Truth In Lending...

After a few weeks of drought in the servicing auction market, a handful of new portfolios are hitting the circuit as sellers try to bolster earnings before year-end. “Buyers haven’t had much new to look at lately, but that’s changing,” said Tom Piercy, managing member of Interactive Mortgage Advisors, Denver. “I think sellers are a little concerned about the new origination forecast for next year from the [Mortgage Bankers Association] and they are thinking they should convert some of their assets to cash.” The MBA last month projected...

Loan modification trends have diverged in recent quarters, with activity in the Home Affordable Modification Program remaining strong while the use of proprietary loan mods dropping significantly. A total of 181,242 loan modifications were completed in the third quarter of 2013, according to Hope Now, a 22.1 percent decline compared with the third quarter of 2012. The decline was driven by proprietary loan mods, with 136,106 completed in the third quarter of 2013, a 26.7 percent reduction from a year ago. Some 45,136 permanent HAMP mods were completed...

Tax forgiveness enacted by Congress in 2007 for mortgage-debt relief is scheduled to expire at the end of this year. In a similar scenario last year, Congress agreed to a one-year extension of the tax break, but analysts are less certain that Congress will pass another extension in the weeks ahead. The Mortgage Forgiveness Debt Relief Act of 2007 exempts borrowers from federal tax obligations for debt forgiven via principal-reduction loan modifications and short sales. Congress has twice extended the deadline for the expiration of the tax break. “Policymakers have expressed...