Although Bank of America has been dumping MSRs aggressively over the past two years, its subprime servicing portfolio has declined at a gradual pace.

What exactly is Owners.com? Launched in 1996, it’s supposedly the largest directory of homes for sale by owners. In other words, they don’t use traditional Realtors…

Wells Fargo reported a 2.1 percent drop in its correspondent originations from the second quarter to the third, and its year-to-date volume was down 57.3 percent.

Interactive Mortgage Advisors alone is working on $10 billion worth of deals...

Under current rules, a servicer cannot explain on the notice itself that the borrower’s hazard insurance is insufficient rather than expired or expiring...

A sale of that size would greatly reduce the bank’s portfolio and would signal a strategy shift.

However, the technology initiative will not be a slam dunk. Real estate laws vary from state to state, which can present a high hurdle for large national lenders to clear.

The biggest gain in bank MBS investment during the third quarter was in non-agency securities.

FHA Mutual Mortgage Insurance Fund ended fiscal 2014 in the black but was still far short of its statutory reserve requirement, prompting critics in Congress to renew their cries for FHA reform. An independent actuarial report sent to Congress this week showed that the MMI Fund now stands at $4.8 billion after a gain of nearly $6 billion over the last year. For the first time since 2009, the fund’s capital ratio also crossed into positive territory at 0.41 percent, up 52 basis points from the negative 0.11 percent posted in fiscal 2013. Overall, the economic value of the fund has risen by $21 billion over the last two years because of the aggressive steps the agency took to stabilize and strengthen the fund, the report said. Policy changes led to improved underwriting for single-family mortgages, increased mortgage insurance premiums, stronger loss mitigation policies and higher recoveries, it added. In addition, with ...

The economic value of the FHA’s Home Equity Conversion Mortgage legacy portfolio fell to negative $0.9 billion in fiscal 2014 due mainly to volatility in long-term house prices and interest rates, according to the latest independent actuarial report on the health of the Mutual Mortgage Insurance Fund. The latest result was a significant improvement from FY 2012, when the fund stood at negative $2.8 billion. In fiscal 2013, the HECM portfolio’s economic value of positive $6.5 billion appeared to be a whopping change from the previous year but that amount reflected a $4.6 billion cash infusion from the forward program and from the $1.7 billion mandatory appropriation, the report clarified. The report also showed a corresponding decline in the HECM capital ratio to negative 1.20 percent. Actuarial projections for fiscal 2015 place the HECM portfolio’s economic value at negative $1.1 billion. The fund’s capital resources for ...