The New York regional office of the Securities and Exchange Commission has opened up a preliminary investigation into the use of “collection agents” by mortgage servicers, including Ocwen Financial. In a recent 10-Q filing, Ocwen said it received a letter in February from SEC staff “informing us that it was conducting an investigation relating to mortgage loan servicer use of collection agents, and it made a request for the voluntary production of documents and information.” In the filing, Ocwen provided...

Nonbanks have indisputably bought a bigger share of the mortgage servicing market in recent years, but that doesn’t mean some banks haven’t been buyers during the migration. The servicing asset was a pariah not long ago, said Mark Garland, president of MountainView Capital Holdings, during a panel session at the recent secondary market conference sponsored by the Mortgage Bankers Association. “It was stepping into a buyback obligation. Suddenly, two years ago, it became the greatest asset ever,” he said. And although Bank of America, JPMorgan Chase, Wells Fargo and Citibank have pruned...

Black Knight plans to expand its offerings to existing clients, gain new clients, introduce new products and selectively acquire smaller vendors...

Although Freddie Mac did not disclose the exact purchase price, it said the cover bid was in "the mid 70s of UPB..."

According to the offering circular, the receivables are geographically dispersed with Texas accounting for the largest share at 7.2 percent.

We understand that American Home Mortgage founder and chief executive Michael Strauss may be launching a new nonprime lender...

A big part of the MBS liquidity issue is caused by the Fed’s massive holdings, said Steve Abrahams, a managing director at Deutsche Bank.

Although only 13 banks reported net losses on mortgage banking during 1Q – compared to 756 institutions with net profits – several of the top players earned less than they did in the fourth quarter.

Another concern that has come up regarding employment is the graying of the mortgage executive suites.

Elsewhere, the CFPB continues to be steadfast on the August 1, 2015, effective date for its TILA/RESPA integrated disclosure rule...