The Supreme Court of the United States this week ruled in favor of Miami in a case involving losses the city claimed were related to “predatory mortgages.” The ultimate impact of the ruling remains unclear, as the lawsuits will proceed in a lower court, potentially fizzling out or leading to a plethora of similar claims. In Bank of America v. City of Miami, BofA and Wells Fargo challenged lawsuits brought under the Fair Housing Act. The city alleged that discriminatory conduct by the banks in their origination of predatory mortgages before the financial crisis led to a disproportionate number of foreclosures and vacancies in majority-minority neighborhoods. Miami said the loans and foreclosures impaired the city’s effort to assure racial integration, diminished its property-tax revenue and increased demand for police, fire and other municipal services. In a 5-3 ruling supported by the Supreme Court’s more liberal-leaning justices, the court determined...

Six months ago, New Residential Mortgage didn’t own any mortgage servicing rights, though it was active in the market as a buyer of excess servicing and in other forms. It ended March 2017 as the sixth-largest servicer in the industry, according to a new Inside Mortgage Finance ranking, and that is probably some kind of record. New Residential reported owned MSR on $252.0 billion of mostly Fannie Mae and Freddie Mac pools at the end of the first quarter. During the first three months of the year, it acquired $92.5 billion of servicing from CitiMortgage and smaller chunks from United Shore, Residential Credit Solutions and Walter/Ditech. Its reported first-quarter total appears to include a $67.0 billion buy from PHH Mortgage that has not yet closed. In addition, New Residential held...[Includes two data tables]

The two top executives at Impac Mortgage Holdings took home a combined $13.22 million in pay last year...

Denmar Dixon, who stepped down as CEO of Walter Investment Management Corp. last year, received $6.62 million in total compensation for 2016 while the company posted a net loss of $529 million.

Ocwen’s management noted there is no guaranty the deal with New Residential will actually close.

Collingwood was founded in 2009 by industry veterans Brian O’Reilly, Brian Montgomery and Tim Rood.

During debate on H.R. 10, the Democrats used a procedural maneuver to force a reading of a large portion of the bill’s text…

Bank of America is retaining more of its GSE-eligible loans, though the strategy can result in short-term decreases to mortgage-banking income.

Perhaps the new Treasury secretary finally looked at the numbers, realizing that Fannie and Freddie – wards of the government since September 2008 – forked over roughly $20 billion to Uncle Sam…

The number of FHA loans 30-60 days past due declined by 28.4 percent, lowering the delinquency rate by 1.51 percentage points…