The U.S. Department of Agriculture is placing all single-family foreclosure processes under one roof and under one team. A comprehensive plan is being implemented to centralize all foreclosure functions to make them more effective, efficient and focused on customers, the agency said. Part of the plan is to consolidate individual state private-attorney agreements into a single contract across the single-family portfolio. USDA sees the state-by-state PA contracts as “bridge agreements” to a larger procurement award that allows foreclosure services to be conducted on a nationwide basis, said Joel Baxley, administrator of the USDA Rural Housing Service. Baxley said foreclosure resolutions are taking too long and are costly due to backlogs, which, in turn, results in unnecessary losses to the government. Streamlining the process and developing one foreclosure and ...

Legal argument: If the FHFA is unconstitutional, then the net worth profit sweep must be…

In June, Ditech agreed to sell MSRs to New Penn Financial...

A spokesman said Impac is now funding $100 million per month in nonprime loans and plans to grow the business further.

Impac's Justin Moisio: “Everyone’s getting into this game.”

Roughly $97.1 billion of bulk mortgage servicing rights changed hands in the second quarter, bringing year-to-date activity to $193.3 billion, according to Inside Mortgage Trends, an affiliated newsletter. But even stronger sales may lie ahead.

IMA and MountainView expect to trade more product this year than last…

Second-ranked JPMorgan Chase had a similarly disappointing quarter.

A spokesperson told Inside the CFPB the agency’s office of enforcement is now “actively litigating 23 cases.”

At the end of July, Citadel serviced $1.75 billion of non-QMs…