Fitch does not single out any servicers by name, but it’s common knowledge that both Ocwen Financial and Nationstar Mortgage have thousands of servicing-related workers housed in India...

One active NPL bidder has been Lone Star Funds, but sources tell IMFnews the hedge fund has been having a “brain drain” of sorts when it comes to talent.

Fannie, Freddie and Ginnie All saw most of their business come from borrowers earning less than $150,000 per year.

The Wells-Ocwen MSR deal is still waiting for Lawsky's green light. But when that will come is another matter...

Pulte Mortgage will install a “modest price” adjustment on its non-QM loans.

The Ginnie II program now accounts for up about 98 percent of new agency issuance.

Sources close to the matter noted that Ocwen is involved, but it’s not a trade group.

As Inside the CFPB was going to press, the bureau announced a $35 million enforcement action against Flagstar Bank for allegedly blocking borrowers’ attempts to save their homes, in violation of the CFPB’s mortgage servicing rules. This is the first enforcement action the bureau has initiated based on the new regulation. The regulator alleged that the bank closed borrower applications due to its own excessive delays. “Flagstar took excessive time to review loss mitigation applications, often causing application documents to expire,” said the agency. “To move its backlog, Flagstar would close applications due to expired documents, even though the documents had expired because of Flagstar’s delay.” The CFPB also accused the bank of delaying the approval or denial of borrower ...

The mortgage industry has about a month left to officially weigh in on the CFPB’s pending Home Mortgage Disclosure Act proposed rule, and a top official at the bureau urged lenders to raise important issues now. “Because we’re opening HMDA up, we’re taking the opportunity to try to streamline the reporting process for you,” said Kathleen Ryan, deputy assistant director in the CFPB’s Office of Regulations, in comments before the Mortgage Bankers Association’s regulatory compliance conference on Monday. The bureau also is looking “for ways to ease some of the pain around geocoding and these other ‘translation’ issues that you have in your reporting systems by trying to align to the extent possible” with existing industry standards for data points ...

The CFPB issued its long-awaited proposed rule to define larger participants in the auto finance sector –as well as its underlying proxy methodology – to a decidedly mixed reaction from rival sectors of the financial services industry. Bill Himpler, executive vice president of the American Financial Services Association, said his organization remains concerned that the bureau continues to issue larger participant rules that capture market participants “that, for lack of a better term, are not large by any stretch of the imagination. “Many of the market players that will be subject to the proposed rule have well below 1 percent of market share,” he added. Citing data from Experian, Himpler said that companies below the top 30 have less than a ...