Mortgages

The agreement, the lender and servicer's only such facility, is set to expire at the end of next September.

Decline was largely driven by a large dip in cash-out refinance locks.

The company previously announced it would also close its consumer-direct operations, which relied heavily on refinance activity.

The settlement with an insurer over Countrywide's mortgage-backed securities closes another chapter on what quickly proved to be an ill-advised acquisition for Bank of America. A trial on the case had kicked off last month.

The wholesale channel tool will speed up mortgage processing time by as much as 40%, the lender claims.

In the face of a growing number in home-equity products, HECM endorsements dropped nationwide by over 43% on a monthly basis to its lowest point in more than two years.

The company said it will prepay two securitization facilities and terminate financial arrangements including at least two involving U.S. Bank.

Wind and storm surge damage to residential and commercial properties could reach $47 billion, according to a CoreLogic analysis.

The Federal Housing Finance Agency got an earful from housing experts at a listening session intended to aid a comprehensive review of the financing system.

Three percent of all mortgages were 30 or more days past due on their scheduled payment or in foreclosure in July.