Cyprexx: Discrimination charges “frivolous”

Cyprexx: Discrimination charges “frivolous”

Fannie Mae contractor responds to charges from National Fair Housing Alliance

Hey CNBC, shut up about millennials already

Your advice is patronizing, contradictory and just plain wrong

Morgan Stanley finally pays $275 million for subprime RMBS fraud

SEC charged company with misrepresenting loans

Items Tagged with 'mortgage servicing'


Fay Servicing breaks into REO business

Selects Glenn Brooks to lead as SVP
July 1, 2014
Fay Servicing is launching an REO division, allowing the company to design optimal resolution and marketing strategies in order to maximize on returns on each asset.
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Bank of America slashes mortgage servicing jobs

Cuts 540 employees
June 25, 2014
Bank of America is drastically cutting back in its mortgage servicing division, known as Legacy Asset Servicing. And the layoffs don’t end in Charlotte.
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Statebridge names Jay Memmott president and chief operating officer

Joins company after four years as Seterus’ president
June 18, 2014
Industry veteran Jay Memmott brings more than 32 years of experience to Statebridge. He was chairman and managing director of Wilshire Credit Corp. for ten years.
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$1 billion Fannie Mae bulk MSR portfolio coming to market

Seller is “well-known” and “established”
June 17, 2014
The loans carry a weighted average note rate of 4.11% and have zero delinquencies.
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Wells Fargo appeal to block FHA mortgage fraud lawsuit denied

Civil suit alleges that Wells Fargo concealed toxic mortgages
June 10, 2014
Wells Fargo claimed that its participation in the National Mortgage Settlement precluded any additional legal action from being taken against the bank over its mortgage practices.
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Louisiana’s mortgage servicers now required to be licensed

New law takes effect on June 30
June 6, 2014
Louisiana House Bill 807, signed into law by Governor Bobby Jindal on May 28, amends state law to require mortgage servicers to be licensed by the state. Previously, only residential mortgage lenders, brokers and originators were required to be licensed to do business in the state.
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Moody’s warns on Green Tree after servicing failures

Performance could hamper business with GSEs
May 27, 2014
Recent test results are putting a spotlight on Green Tree, according to analysts at Moody's Investors Service. As a result, Green Tree may find it harder to grow its business through mortgage servicing rights purchases in the short term, but the credit ratings agency said the threat to RMBS is minimal.
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Wells Fargo settles another robosigning lawsuit

This one brought by shareholders, not homeowners
May 23, 2014
"Wells Fargo and its directors are pleased to have resolved this matter," said Wells Fargo spokesman Tom Goyda. "We remain committed to our efforts to assist borrowers facing financial challenges and believe this settlement benefits the company, our customers and our shareholders."
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Ocwen’s bad day just got worse

Hit with class action lawsuit in Pennsylvania over servicing practices
May 20, 2014
Hours after a regulator promised more nonbank crackdowns, Ocwen got sued in federal court. The group of homeowners allege the company engaged in substandard and illegal servicing practices that violated Pennsylvania state law and RESPA.
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Amid discussion of mortgage business split, PHH posts $42 million loss

Company expects decision on its future in the 2nd quarter
May 7, 2014

PHH reported its first-quarter earnings for 2014, and the news was not promising for the company's future.

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