Servicing

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.

PHH Corp. agreed to a $45 million settlement to resolve allegations from 49 states and the District of Columbia that it engaged in "foreclosure process abuses" involving "inconsistent signatures" in its servicing business from 2009 to 2012. The settlement comes as the nonbank mortgage company continues its legal challenge to a separate regulatory action by the CFPB.

The seven largest national banks held less than 5% of loans that were delinquent at the end of the third quarter, the Office of the Comptroller of the Currency said Friday.