The Dallas bank reported sizable growth in business and mortgage lending in the second quarter, but it more than doubled its provision for loan losses to cover four credits that went into nonaccrual status.
The Atlanta bank had previously failed compliance metrics in five straight quarters before passing them last year, according to the settlement's monitor.
Freddie Mac has quietly started extending credit to nonbanks that issue mortgages, a move it says will help the companies maintain access to a crucial stockpile of cash if their home loans go sour.
Banks would welcome a proposal to loosen Basel III capital restrictions because it would make holding mortgage servicing rights easier and stem the recent exodus of depositories from the servicing business, executives said.
Servicers are still trying to figure out how they can best take advantage of the growing use of electronic notes and other digital mortgage tools by lenders and the secondary 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.
