Parties to trustee lawsuits challenging a city’s use of eminent domain to deal with foreclosures are gearing up for a face-off at an injunction hearing Sept. 13 in federal district court in San Francisco. The city of Richmond, CA, the defendant in the lawsuit, has suffered setbacks in the last few days and has yet to make good on its threat to initiate eminent domain proceedings after investor trustees rejected its offer to purchase distressed mortgages for restructuring. Wells Fargo and Deutsche Bank, acting as trustees for a group of ...

CFPB examiners found numerous loss mitigation mistakes, including inconsistent communications with borrowers, spotty loss mitigation underwriting and long application review periods. All this could lead to new regulations for servicers.

In a letter to DOJ, Sen. Warren said the federal government could have gotten more for FHA under the False Claims Act’s treble damages provision.

Late this week, some reports surfaced suggesting that an “alternative” proposal could surface, requiring a 30 percent downpayment for QRM status.

Nonbanks the likes Ocwen Financial, Nationstar and Walter Investment will continue to be buyers of mortgage servicing rights.

When LoanDepot and imortgage.com merge don't expect any layoffs to occur. Meanwhile, speculators are shorting PHH's stock.

Significant opposition to lowering the GSE loan limits will come from Realtors, home builders and members of Congress on both sides of the aisle.

The $11.6 billion deal resolved Fannie's long-standing claims that BofA sold the GSE defective mortgages and mishandled various loans it serviced for Fannie between 2000 and 2008.

Cerberus Capital is contemplating purchasing additional mortgage banking firms. Meanwhile, the CFPB doesn't like what it sees in the servicing space when it comes to customer service.

With Fannie lowering its LTV maximum it will reduce the pool of eligible GSE borrowers and likely shift those loans over to FHA, which means private mortgage insurance firms will lose business.