2012 A Good Year for MGIC

Seventy percent more loans were insured last year at MGIC Guaranty Insurance Corp. than in 2011. The mortgage insurer has also improved its delinquency rate by more than 200 basis points over the past 12 months.

Home lenders used MGIC to insure $2.2 billion in mortgages during December, according to monthly operating data released Tuesday.

There wasn't any change from the level of business generated in November, but activity has soared from December 2011, when $1.4 billion in new policies were written.

Chase Eliminates Hundreds of East Coast Mortgage Jobs

Improved performance on its residential loans means that staffing needs in distressed servicing have diminished at JPMorgan Chase &Co. As a result, hundreds of employees located on the East Coast have been laid off.

Servicer Settlement Ends Foreclosure Reviews

The country's biggest mortgage servicers have reached an agreement with federal banking regulators that will end foreclosure reviews required under consent orders issued nearly two years ago.

Walter Continues Acquisition Spree

Walter Investment Management Corp. has recently had a voracious appetite for production and servicing assets, and now the growing firm has inked a deal to pick up another servicing platform

Despite a decline in the underlying rate, the Monthly Treasury Average moved higher last month. Also recently higher was the share of prospective borrowers who are opting for adjustable-rate mortgages.

Merger Creates 3rd-Largest AMC

An acquisition by a prominent appraisal management company promises to create the third largest AMC in the country.

Mother of All Repurchase Disputes Resolved

An agreement reached between the Federal National Mortgage Association and Bank of America Corp. will resolve one of the largest repurchase rifts ever in mortgage banking history. In addition, servicing on more than $200 billion in residential loans is trading hands as part of the transaction and shaking up top-servicer rankings.

Mortgage Casualties Drop to Pre-Crisis Levels

The number of mortgage-related businesses to end operations during the final three months of 2012 was down by half from a year earlier. Full-year casualties fell to the lowest level since prior to the subprime crisis.

BofA a Top Performing Stock

It wasn't long ago that investors worried Bank of America Corp.'s July 2008 acquisition of Countrywide Financial Corp. was a money pit that would continue to place a drag on earnings.

Florida Legislation Would Speed Up Foreclosures

A bill submitted in the Florida legislature would fast-track the foreclosure process in the state and reduce liability on completed foreclosure sales. But the legislation proposes strict documentation requirements and a reduction in the statute of limitations for collecting a deficiency judgment.