If rates continue to head south it could result in large hedging losses and markdowns on mortgage servicing rights.

This just in: Wells Fargo mortgage chief Mike Heid to step down...

Meanwhile, Ocwen has been shifting as many of its servicing workers overseas as possible...

Both parties, to date, have declined to discuss the situation.

Meanwhile, $69.1 billion in FHA purchase and refi loans were securitized in 2Q, a whopping 93.9 percent sequential gain.

Five Oaks issued its first jumbo MBS in April and plans for another deal by the end of September.

Walter, the parent of Green Tree Servicing, also marked up the fair value of its servicing portfolio by $59.3 million.

In trading Monday, investors were not treating AAMC’s stock kindly.

The CFPB recently brought a $38.4 million enforcement action against Paymap Inc., a Colorado-based payment processing company, and a related action against LoanCare, LLC, a Virginia-based residential mortgage servicer, for allegedly deceiving consumers with advertisements for a mortgage payment program that promised tens of thousands of dollars in interest savings from more frequent mortgage payments. Specifically, the bureau determined that consumers were lured with deceptive promises of savings and misled them about when their payments would be applied. According to the bureau, the two companies together marketed and provided the “Equity Accelerator Program” – an electronic payment system that enables consumers to make automatic mortgage payments via electronic debits from their bank accounts. Consumers were usually charged a $295 enrollment fee ...

The CFPB brought a $1.6 million enforcement action against Residential Credit Solutions, Inc., a national mortgage servicing company for allegedly blocking consumers’ attempts to save their homes from foreclosure. The bureau accused the mortgage servicer of failing to honor modifications for loans transferred from other servicers, of treating consumers as if they were in default when they weren’t, of sending consumers escrow statements falsely claiming they were due a refund, and of forcing consumers to waive their rights in order to get a repayment plan. Residential Credit Solutions, based in Fort Worth, TX, has roughly $95 million in total assets. Since 2009, approximately 75,000 borrowers have had their loans transferred to the company, according to the CFPB. The company specializes ...