The index estimates the level of defects detected in loan applications processed by the First American FraudGuard system.

PHH said it will subservice the loans for New Residential "for an initial period of three years, subject to certain termination provisions."

The sale proceeds exclude estimated transaction fees and expenses of roughly 5.0 percent...

DOJ notes that although the lender’s internal quality control reviews “showed severe problems with FHA insured mortgages, USFS routinely failed to provide any meaningful information to senior management…”

The new MBS is backed by 4,274 mortgages that have seasoned for an average of 10.6 years.

Tim Howard, a former Fannie Mae CFO, called Mnuchin’s comments “a welcome reset…”

The leading cause of adverse findings was incomplete or missing loan documents...

New Residential is entitled to a $10 million termination fee if the sale falls apart...

Wells Fargo, for example, reported that 90.7 percent of its third-quarter jumbo originations came through the retail channel…

Rising interest rates are good for MI stocks because it translates into greater “persistency…”