The decline in the use of proprietary loan mods also has outpaced a decline in foreclosure sales. Some 166,809 foreclosures were completed in the third quarter of 2013, down 2 percent from the first quarter of 2013.

The man heading the MSR sales effort for Wells Fargo is Brian Kunar, who carries the title of senior vice president of servicing sales.

Ocwen Financial, the nation’s top-ranked subprime servicer, was the only firm among the major servicers that increased its subprime servicing portfolio (excluding subservicing) in the third quarter of 2013.

The settlement offer – which does not cover claims on trusts issued by Washington Mutual – will remain open until Jan. 15, 2014, but may be extended.

One lender that operates in the Irvine area noted that his firm has received several resumes from former Rushmore workers.

Under the new guidance, lenders must report to FHA all findings of fraud and material misrepresentations concerning the origination, underwriting or servicing of a loan that the lender is unable to mitigate or resolve.

In a new letter to CFPB Director Richard Cordray, the ICBA and 41 state affiliates say they want a “reasonable transition period of nine to 12 months."

Mortgage professionals who work the M&A trade contend that interest in residential finance is not waning in the least, but potential buyers are being a bit more choosey these days.

It is unclear how much money is needed to recapitalize RMIC, which is currently in a run-off mode, but Old Republic plans to contribute up to $50 million and raise additional funds in the capital markets to resurrect its MI subsidiaries.

The Center for American Progress called on FHFA to keep g-fees at current levels “until there is reliable evidence” to suggest that the government needs more revenue to cover the cost of the guaranty.