Servicing

Moelis submits a revised Fannie/Freddie blueprint; FASB considering a plan to have banks break out charge-offs and recoveries on year-by-year basis; Wells Fargo layoffs begin with 1,000 jobs in mortgage and tech; and more from this week's most-read stories.

FDIC Chairman Jelena McWilliams questioned whether regulators and banks are fully capturing the emerging risks of a new shadow banking system.

The bank recently notified an upstate New York man that he was wrongly denied a mortgage modification, and enclosed a $25,000 check. But details of what went wrong have been hard to come by.

Growing home prices plus rising interest rates are putting a damper on mortgage lending, which pushes the market to seek out less qualified borrowers and increases the risk of fraud.

Despite an overall weak mortgage originations market, Flagstar Bancorp's third-quarter earnings grew 20%, due in large part to its ongoing efforts to diversify operations.

The Federal Housing Administration is making it easier for reverse mortgage servicers to submit insurance claims by expanding the types of supporting documentation it will accept on defaulted loans.

The Federal Housing Administration is looking to streamline its single-family loan servicing requirements to align them with industry standards and upgrade outdated technology.

JPMorgan Chase is eliminating 400 positions in its mortgage banking unit, the latest lender to trim staff as a result of lower-than-expected demand in 2018.

A former Ocwen Financial executive is settling Securities and Exchange Commission charges that he engaged in insider trading related to his company's dealings with Altisource Portfolio Solutions following a CFPB enforcement action and its upcoming merger with PHH Corp.

The CEOs of Fannie Mae and Freddie Mac are stepping down because the job they were hired to do — return the GSEs to profitability — is done. But attracting top-flight candidates to lead the mortgage giants into a new phase may not be easy.