A significant percentage of active Ginnie Mae issuers use subservicers in their operations, and agency officials estimate that 22 subservicers handle roughly a third, or $510 billion, of the program’s portfolio. The four top subservicers handle approximately 21 percent of Ginnie’s total portfolio or 65 percent of the subserviced portion. During the recent Ginnie Mae annual conference in Arlington, VA, representatives from Lakeview Loan Servicing, Pingora Asset Management and ...

“The issues that have impeded the regulators’ ability to conduct electronic examinations must be rectified, and when resolved, will enable a more efficient and timely regulatory process,” said Karyn Tierney, chair of the MMC.

The new remedies framework includes more transparency about the factors a GSE will weigh in determining whether a defect is significant.

Over the past few months, the chief executive officers at two publicly traded mortgage firms and a private cooperative have departed, creating uncertainty in the market while underscoring what might seem obvious to some: It’s not easy running a mortgage business these days. CEOs heading for the exits – either on their own accord or via a management edict – include Jim Cutillo of Stonegate, Jeff McGuiness at the Lenders One Cooperative, and most recently Mark O’Brien, who headed nonbank lender/servicer Walter Investment Management Corp. And rounding out the “departure club” is...

An acquirer of mortgage servicing rights has agreed to pay $1.5 million and to stop committing further violations to resolve charges of misstating net income and misleading the Securities and Exchange Commission about its relationship with servicer Ocwen Financial Group. The settlement agreement between the SEC and Home Loan Servicing Solutions is the latest twist in the long-running federal and state investigations of Ocwen and its relationships with affiliated companies, which have included HLSS, Altisource Residential, Altisource Portfolio Solutions and Altisource Asset Management. The common thread in all five companies is...

In general, IBM has rarely talked to the media about Seterus and its contract with the government-sponsored enterprise, or much else, for that matter.

HLSS also misstated its net income in 2012, 2013 and the first quarter of 2014.

In his rebuttal to the IG’s findings, FHFA acting deputy director of conservatorships, Bob Ryan, concurs with some of the IG’s recommendations but takes issue with other aspects of the report.

According to the offering circular, the collateral resides in all 50 states with Ohio having the highest chunk at a mere 8.1 percent.

Not only are Fannie Mae and Freddie Mac spending more money than they were a few years ago, but their proposed budgets are being submitted late, says the IG.