Servicing

Ocwen Financial Corp.'s acquisition of PHH Corp. will help the nonbank servicer rebuild scale that's been diminished by years of regulatory restrictions and the decline in distressed mortgage volume brought about by improvements in the overall housing market.

From accelerating its subservicing transformation to overcoming regulatory obstacles, here's a look at three reasons behind Ocwen Financial Corp.'s $360 million acquisition of PHH Corp.

With few foreclosed homes left to pick up on the cheap, the biggest landlords are buying, or building, new single-family homes to pad their portfolios; mortgages on these properties could show up as collateral in rental bonds.

Warburg Pincus has agreed to buy a majority stake in a mortgage and consumer loan origination and servicing platform owned by Fiserv.

Problems with the IRS-managed Income Verification Express System, or IVES, have stoked concerns about delayed mortgage closings when volume picks up this spring.

The acting head of the Consumer Financial Protection Bureau can utilize "look-backs" of mortgage servicing and underwriting rules to push for significant changes.

Flagstar Bancorp swung to a fourth-quarter loss as the company took an $80 million noncash charge to earnings because of the tax reform bill.

The cooperative financial technology company will offer Ellie Mae’s Encompass all-in-one mortgage-management product.

Laurie Maggiano, the Consumer Financial Protection Bureau's program manager for servicing and secondary markets, died on Sunday.

Sen. Sherrod Brown called on the Trump administration to support the Consumer Financial Protection Bureau's enforcement action against PHH Corp., which agreed to a $45 million settlement this week related to foreclosure abuses.