Meanwhile, the U.S. House of Representatives approved a modified bill that would require federal banking regulators to study the role of depository institutions in the MSR market.

CFPB chief Richard Cordray promised: "If we see errors, we’ll point out what they are and how they should be corrected. We will not be looking to be punitive toward people.”

Despite shrinking housing receivables, Citigroup marked up the asset value of its MSR contracts to $1.924 billion, a 14 percent improvement from the end of the first quarter.

The delinquent notes are being marketed in collaboration with Wall Street firms Credit Suisse, Wells Fargo Securities, and Williams Capital Group.

Selene CEO and industry veteran Larry Litton is retiring. Years ago Litton launched Litton Loan Servicing, which he eventually sold to Goldman Sachs.

CSS recently unveiled the trade groups that would participating in the IAG, but did not identify any individuals…

For mortgage companies that were hoping to go public this year, they might as well forget about it. As one industry analyst put it: “The IPO market isn’t even on life support. It’s just plain dead.” Although many privately held mortgage firms are enjoying a strong year in both lending and profitability, the initial public offering market is dormant for three reasons: Nationstar Mortgage, Ocwen Financial and Walter Investment Management Corp. This year, the once “big three” nonbanks have paid...

The mortgage division is housed in BofA’s consumer banking division, which employed 65,818 workers at the end of June.

Chase was the sixth largest FHA lender in 2014 with $1.67 billion. Citi ranked 62nd with $342.4 million.

According to IMF’s exclusive ranking, Cenlar ranked first among all subservicers at the end of the first quarter with an estimated $252 billion of contracts...