Class-action plaintiffs might not be assured of a final victory despite a favorable jury verdict in the wake of the U.S. Court of Appeals for the Second Circuit’s affirmation of district courts’ power to decertify a class even after a jury verdict. Industry attorneys say that the court’s recent ruling in Mazzei v. The Money Store means that defendants can obtain decertification of a class action not only leading up to trial, but even after a jury verdict in favor of the class. In Mazzei, the Second Circuit reaffirmed...

JGWHL’s parent company was recently delisted by the New York Stock Exchange…

Smaller depositories held 8.0 percent of the banking industry’s total mortgage servicing assets in 2015, up from a share of less than 2.0 percent as recently as 2009.

“We have a pretty good idea of what the bureau is going to do in substance,” said Donald Lampe, a partner in the financial services group at Morrison & Foerster…

Nonprime lender Angel Oak Mortgage Solutions is now offering a “no-income” loan to investors with credit scores as low as 660...

However, one bright spot was originations, which increased sequentially by 35 percent to $1.32 billion.

However, EverBank has been cutting back its presence in residential finance, a trend that was cemented when Tom Wind left the company in December...

Flagstar capitalized its residential servicing portfolio at 99 basis points at June 30, compared to 106 bps at March 31.

Some banks nearly tripled their bulk MSR acquisitions in 2Q16. SunTrust, for example, bought $7.41 billion of GSE servicing during the period, making it the third most active buyer in the market.

The IG accused the FHFA of shirking its responsibility to effectively examine Fannie Mae and Freddie Mac...