Several of the top mortgage servicers in the industry reported ongoing shrinkage in their portfolios during the first quarter of 2011, according to a new Inside Mortgage Finance ranking. As a group, the top five servicers reported a 1.1 percent drop in their combined servicing operations from... [Includes one data chart]

The current method of paying servicers could stand to be improved, but regulators and secondary market investors need to bear in mind that change would have ripple effects throughout the industry, according to a new analysis by Mortgage Industry Advisory Corp., a consulting firm based in New York. “Changing the servicing fee from its current form may...

The draft servicing settlement proposed by some state attorneys general would prove counterproductive because it would drive up defaults and foreclosure costs and would not likely provide broad or lasting benefits, according to a study released this week. Researchers at Kansas State University, Louisiana State University and the National Bureau of Economic Research said...

Specialists in default mortgage servicing are focusing more on systems that work with the individual borrower’s situation, improve transparency and information for management and increase opportunity for collaboration. Unemployment and negative equity are...

The consent decree which certain mortgage servicers have reportedly agreed to draws heavily from an earlier draft of comprehensive measures developed by federal banking regulators to improve foreclosure policies and practices. The provisions in the draft, which had been ready as early as February, compel servicers to...

Hoping to capitalize on the growing market for special servicing, Walter Investment Management announced last week that it plans to acquire Green Tree Credit Solutions. Walter said it will purchase the special servicer for $1.065 billion and Walter will have to drop its status as a real-estate investment trust. Green Tree currently services...

The Mortgage Bankers Association has announced David Stevens, currently the assistant secretary for housing at the Department of Housing and Urban Development and commissioner of the FHA, will take over as MBA president and chief executive officer after John Courson leaves the association June 1. The AARP filed...

Discussion over the size of civil fines to be imposed on mortgage servicers continues in the wake of a draft term sheet of the settlement agreement proposed by state attorneys general that was floated last week. A spokesman for Iowa Attorney General Tom Miller said...

Arizona. The state Senate has passed S.B. 1259, which would require lenders to produce the full chain of title or risk the foreclosure sale being voided. The GOP-sponsored bill passed by a vote of 28-2 and is now being considered in the state House. The purpose of the bill is to require...

Federal ReserveLO Compensation Webinar. The Fed will host a webinar on March 17 to answer questions and provide an update on the controversial loan officer compensation rule, which takes effect April 1. Securities and Exchange Commission Mortgage Firm, Top Executive Charged...