Paul Muolo

A funny thing is happening to the market value of mortgage servicing rights: as this volatile asset class continues to wane in price, there's now less of it out there in the world—a lot less compared to the peak of two years ago.

PHH Mortgage said it will no longer accept new FHA Streamline refinancings from correspondent lenders unless it is already servicing the loan, according to a memo provided to National Mortgage News.

U.S. consumers owed $8.995 trillion on their residential loans at the end of March-the lowest debt figure recorded in almost five years, according to new figures compiled by National Mortgage News and the Quarterly Data Report.

Federal prosecutors Wednesday accused Washington D.C. Council chairman Kwame R. Brown with mortgage fraud, saying he lied on his home mortgage application as part of a scheme to buy a $50,000 power boat.

The Consumer Financial Protection Bureau is giving the participants in its "small business" review panel five additional days to offer comments on the agency's mortgage banking compensation proposals.

The mortgage industry may have another problem on its hands: originations as measured by Fannie Mae and Freddie Mac acquisitions in the secondary market took it on the chin late this spring.

SunTrust Mortgage hired former MetLife Home Loans executive Linda Steiner as a regional wholesale manager based in the Pacific Northwest.

WarehouseOne of Trenton, N.J., which has been in business since 1998, is demanding that a troubled lender with a similar-sounding name stop using that name.

Mortgage firms that use the correspondent and wholesale channels to fund loans experienced strong growth in the first quarter, according to preliminary survey information being compiled by National Mortgage News and the Quarterly Data Report.

Citigroup, a somewhat frequent seller of nonperforming loans, is in the market with a $99 million package of troubled residential mortgages, according to investors that have looked at the package.

PHH Corp. Monday morning named former General Electric energy executive David E. Tucker president of its mortgage division.

When Residential Capital Corp. filed for bankruptcy protection earlier this week it left behind a trail of unsecured creditors with claims totaling well over $1 billion, according to court documents.

Mortgage delinquencies continued on their downward path in the first quarter with 7.4% of all loans considered past due, the lowest reading since the third quarter of 2008, according to new figures compiled by the Mortgage Bankers Association.

After Ally put its ResCap mortgage unit into bankruptcy on Monday, ResCap CEO Tom Marano discussed the future of the unit’s assets and staff in an interview.

SpringLeaf Finance Corp., which is partly controlled by the U.S. government, has entered into another round of layoffs, and may have to file for bankruptcy protection, according to industry advisors close to the company.

Fannie Mae posted $3 billion in total "comprehensive" income in the first quarter, and then turned around and paid the U.S. Treasury $2.8 billion in dividends, according to figures released Wednesday morning.

HSBC's U.S. bank will transfer roughly $52 billion of residential servicing rights to PHH Corp., which also will absorb two-thirds of its mortgage work force. No money will change hands in the transaction, HSBC said.

Anthony Renzi weighed a position with private equity investor Wilbur Ross’ fast-growing mortgage empire before opting this week to leave Freddie Mac for a senior mortgage job with Citigroup.

Michael D. Fraizer, chairman and CEO of Genworth Financial, resigned Tuesday afternoon, two weeks after the firm's stock was hammered because of accelerating losses in its Australian mortgage insurance business.

Mortgage industry veteran Tony Renzi, who joined Freddie Mac last spring as part of a major organization at the GSE, has resigned from the company effective May 11, according to a new SEC filing.