Flagstar will sell the servicing rights on about half of its portfolio to the real estate investment trust and subservice the loans.

Bexil American Mortgage partnered with a private real estate investment trust to launch a correspondent program. Meanwhile, New Jersey filed a lawsuit against Credit Suisse regarding non-agency mortgage-backed securities issued before the financial crisis.

FHA officials first asked for the servicing authority back in June, but the request has gone nowhere. Fannie Mae and Freddie Mac already have transfer authority.

The rating service this week placed the primary servicer rating of EverBank Mortgage on “watch” for a potential downgrade due to changes to the servicer’s platform.

Wells, Bank of America and JPMorgan Chase accounted for a combined 44.7 percent of the $517.75 billion in bank HELOCs outstanding at the end of the third quarter.

According to an analysis by Inside Nonconforming Markets, Fannie Mae’s portfolio of guaranteed subprime mortgages is declining much more rapidly than Freddie’s.

“We are expecting to see people trying to inflate their income or hiding and downplaying their monthly obligations,” said Interthinx's Ann Fulmer.

The appraisal requirements required by the Dodd-Frank Act apply to higher-priced mortgages that don’t meet qualified mortgage requirements.

Fitch says nonbank servicers resolve delinquencies at a significantly faster pace than banks, partly due to the loss-mitigation requirements for the five big banks included in the $25 billion national servicing settlement.

Treasury could withhold HAMP incentive payments to CitiMortgage, but noted that after considering all relevant factors, it has chosen not to at this time.