At yearend, Bank of America serviced $693 billion of home mortgages, a 4 percent decline from Sept. 30.

The layoffs “were in various departments and locations, but the majority of them were in corporate (administrative) departments at our headquarters,” spokesman for the company told IMFnews.

“We’ve seen a huge uptick in FHA streamlines with everyone waiting to order new case numbers,” said company president Eddy Perez.

The FHFA, so far, has declined to provide a budget figure to the general public.

Ocwen’s plan to sell roughly $182 billion of agency servicing rights may have gone up in smoke this week after it was revealed that the California Department of Business Oversight could pull its mortgage licenses in the state. One servicing advisor, requesting anonymity, said the nonbank’s latest run-in with regulators “effectively put an illiquid label on all of their servicing rights.” Another advisor suggested...

Marc Savitt, president of the National Association of Independent Housing Professionals, pointed to a flaw in the beta version of Rate Checker: it doesn't show the annual percentage rate.

Stan Kurland, PennyMac’s chairman and CEO, said the FHLB application for PMT Insurance has been on hold since it was submitted.

Although JPM reduced the asset value of its mortgage servicing portfolio in 4Q, Wells marked up its MSRs.

Ocwen’s lack of cooperation regarding documents led the agency’s commissioner to issue a subpoena “duces tecum,” which is essentially a court summons.

The positive performance, a drop of 14.5 percent, is most likely due to the continued recovery in the overall economy as well as the housing market.