The Mortgage Bankers Association applauded the Fed chair's comments revealing the plan.

Investors act differently than owner-occupants in terms of servicing-related decisions.

The move would mean breaking from the external management by Cherry Hill Mortgage Management, which is owned by Stanley Middleman, CEO of Freedom Mortgage.

The initiative serves as a last resort for the servicer...

Mike Fratantoni, a senior vice president and chief economist at the Mortgage Bankers Association, stressed that headline figures from the June jobs report don't tell the whole story on employment trends.

The CFPB completed 28 fair lending examinations or reviews on banks and nonbanks last year.

Pending home sales in June declined on an annual basis at a rate not seen in four months.

Borrowings under the new credit agreement are unsecured. A commitment fee also was involved.

MSR investing veteran Michael Lau said investors that focus on recapture are “building today for what’s going to come tomorrow.”

The proposal aims to address issues similar to those that led to the failure of Reverse Mortgage Funding.