New York state's banking regulator on Wednesday requested information from Nationstar Mortgage LLC about its portfolio and mortgage servicing practices, saying that it has received hundreds of complaints from consumers as Nationstar's business has seen explosive growth.
JPMorgan Chase & Co will pay $400 million to settle lawsuits brought by bond insurer Syncora Guarantee Inc over toxic mortgage-backed securities, according to the insurer.
JPMorgan Chase & Co, the largest U.S. bank, announced thousands of job cuts on Tuesday as the mortgage lending business slows, and said it was lowering its profitability target.
Credit rating agency Moody's Corp warned that mortgage servicers such as Ocwen Financial Corp could be pushed into subprime lending as their core business comes under increased regulatory scrutiny.
American International Group is holding "hostage" an $8.5 billion deal to compensate investors who bought Bank of America Corp mortgage securities, supporters of the deal said in court filings ahead of a hearing on Wednesday.
New York's financial regulator on Wednesday said the explosive growth of non-bank mortgage servicers is a "troubling trend" that must be confronted "before more homeowners get hurt."
A new judge presiding over Bank of America Corp's proposed $8.5 billion settlement with investors in soured mortgage securities on Tuesday postponed entering a final judgment in the case, raising the possibility of additional legal maneuvers.
Trustees extended by two months the deadline for them to decide whether to accept JPMorgan Chase and Co's proposed $4.5 billion settlement with investors who lost money on mortgage-backed securities.
The U.S. Federal Reserve's balance sheet reached $4 trillion in the latest week as its latest stimulus program aimed to help the economy added more Treasuries and mortgage-backed securities to its holdings, central bank data released on Thursday showed.
Fannie Mae has begun marketing its second risk-transfer mortgage-bond, the USD750m Connecticut Avenue Securities (CAS) 2014-C01, investors said on Monday.