Looser capital rules could stabilize mortgage servicing, banks say


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.


Wells' OCC tipoff, crime-fighting AI and HSBC's mortgage play: Top stories of the week


Wells Fargo gets tipped off by OCC on investigation; HSBC is wading back into U.S. mortgage waters; a bank uses artificial intelligence to combat money laundering; and more.


BankFirst in Miss. buys mortgage services company


BankFirst Financial Services in Columbus, Miss., has acquired HomeFirst, a mortgage services firm.


Why HSBC is getting back into mortgages


Despite past missteps in the U.S. mortgage business, the bank is giving it another go, bringing servicing in-house and catering to millennials and international clients here, says HSBC’s Raman Muralidharan.


CFPB finalizes technical correction to mortgage servicing rule


The Consumer Financial Protection Bureau finalized a rule on Thursday that gives mortgage servicers more latitude in sending periodic statements to borrowers in bankruptcy.


Lenders to Treasury: Allow alternative to IRS income verification


Problems with the IRS-managed Income Verification Express System, or IVES, have stoked concerns about delayed mortgage closings when volume picks up this spring.


Mulvaney could use Dodd-Frank to gut CFPB mortgage rules


The acting head of the Consumer Financial Protection Bureau can utilize "look-backs" of mortgage servicing and underwriting rules to push for significant changes.


Trump administration must back CFPB action against PHH, top Democrat says


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.


Drop in mortgage delinquencies shows no sign of bottoming out soon


The long-running slide in mortgage payments 60 or more days past due will continue next year, and perhaps even longer as borrowers benefit from favorable economic conditions.


Senators ready mortgage servicing fix as tax reform nears finish line


A provision in the original Senate tax reform bill would have required companies acquiring mortgage servicing rights to pay taxes upfront for their anticipated servicing income.