Servicing

Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.

While consumer distress in auto and personal loans also picked up, the pace of growth among mortgages was atypical, Vantagescore's monthly credit gauge said.

Foreclosure activity surged in the first quarter, underscoring the growing need for borrower support as certain federal protections expired.

The regulator says its prior amicus brief, which cited the Fair Debt Collection Practices Act and sided with borrowers, was no longer valid.

The megaservicer is fending off a class-action lawsuit while suing its insurers for allegedly failing to indemnify it following its breach in 2023.

Regulators should approve the deal because post-merger, the servicing market remains fragmented and the mortgage origination business is even more dispersed.

This transaction, following Rocket's purchase of Redfin, could be the start of the creation of large players to compete with the likes of Zillow.

The deal, expected to close by the end of 2025, will place Mr. Cooper CEO Jay Bray as president and CEO of Rocket Mortgage.

Nationally, starts are higher even when seasonal differences are accounted for and in some areas distress is far above the U.S. average, Attom found.

A coalition of national financial organizations filed a friend-of-the-court brief for preemption after regulators filed one against it in a key servicing case.

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Foreclosure filings increased 7% in January from December, which could be a housing market starting to experience trouble, or a post-holiday return to normal.

The subcommittee to be chaired by Sen. Katie Britt, R.- Ala. will oversee servicing and HUD at a time when Republicans are resurfacing legislative proposals they now have more power to advance.

The bank has brought in mortgage industry veteran Ken Logan as senior managing director to oversee a broader range of financing it's offering to home lenders.

Mr. Cooper will be filing a motion to dismiss a data breach-related class action by Sept.13, documents show.

Trimont CEO Bill Sexton acknowledges that a "daunting" volume of commercial real estate loans need to be refinanced in the next few years. But he says nonbank lenders are well equipped to provide financing that will allow troubled buildings to be reimagined.

The plaintiffs' 2nd Circuit filing in the Bank of America escrow preemption case is the first since the Supreme Court sent it back for more analysis.

Fay disputes claims it violated servicing laws and a previous order related to dual tracking allegations but agreed to settle without admission of wrongdoing.

The banking giant's sale of the non-agency, third-party portion of its commercial servicing business will boost the buyer's position in the securitized market.