…

A focus on special servicing has helped Rushmore Loan Management Services increase its portfolio in recent years. Standard & Poor’s also recently upgraded the firm’s special servicing rating to “above average.”

CAPITAL HILL REPORT: Shortly before the U.S. Congress vacated the nation’s capital for its spring recess, Sen. Mike Crapo, R-ID, introduced legislation that would require all rules from the Consumer Financial Protection Bureau be evaluated in the 10-year regulatory review process under the Economic Growth and Regulatory Paperwork Reduction Act, which seeks to identify rules that are unnecessary, outdated and overly burdensome. The Dodd-Frank Act already requires the CFPB to similarly review every major rulemaking…

The decline in the use of principal reduction mods is concentrated on bank portfolio loans as opposed to mortgages in non-agency MBS.

Six firms issued jumbo MBS in 1Q 2015, down from eight participants the previous quarter.

Truman Capital alleged that Nationstar backed out of the transaction after realizing that the sale price for the NPLs was lower than fair market value.

One real estate agent said an unidentified lender offers preapproval letters to “anyone who walks in.”

The 90+ day delinquency rate on second liens was 0.27 percent at December 31, just about flat compared with the previous quarter.

Tomkinson plans to increase CashCall’s licensing by an additional 30 states within 60 days.

Some 16 single-borrower SFR rental deals have been issued since the market came to life in November 2013.