Servicing

Down payment standards should be relaxed to just 10% to spur homebuying among millennials, Bank of America CEO Brian Moynihan said this week.

State regulators felt they were strung along by the mortgage servicing giant Ocwen Financial after years of promises that were never fulfilled, resulting in successive enforcement actions against the company.

In an attempt to show it went all out to help struggling homeowners, the embattled mortgage servicer Ocwen Financial provided an unusual level of detail about foreclosures it says regulators have deemed "inappropriate."

In an echo of the rescue deals of 2007 and 2008, New Residential's CEO framed the transaction as something undertaken to benefit the entire industry.

Years after the worst of the housing crisis, states still dealing with high foreclosure activity are weighing laws to speed the process on vacant or abandoned properties.

The onslaught of regulatory actions against Ocwen may open the door for Nationstar to pick up a massive subservicing portfolio from the beleaguered servicer.

Growth outside of its residential mortgage business contributed to Flagstar Bank beating first-quarter earnings estimates, company executives said.

Citi has named David Chubak as head of global retail banking and mortgage for the global consumer bank, replacing Jonathan Larsen, who resigned late last year.

Ocwen Financial and its subsidiaries faced a slew of accusations from federal and state regulators on Thursday, which raised questions about whether the firm could survive.

Speaking at a town hall event in Washington, JPMorgan Chase CEO Jamie Dimon said that post-crisis regulations have made mortgages too costly for consumers — and made homeownership unattainable for borrowers with low incomes or blemished credit histories.