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To ensure a smooth transition, Heid will remain in his current position with Wells Fargo until September 30 and will stay with the company until the end of the year.

Mortgage, financial, and technology services provider Altisource Portfolio Solutions has announced the addition of Riccardo S. Brizzi as Chief Client Officer and Kirk G. Willison as SVP of Government and Industry Relations.

Smith announced Tuesday he had filed his final report with the U.S. District Court for the District of Columbia on the investigation of Ocwen's IRG and of Ocwen's compliance with the NMS for the first and second quarters of 2014.

The foreclosure inventory rate has now declined year-over-year for 44 consecutive months, including June. The 1.2 percent foreclosure inventory rate represented about 472,000 homes, down from 664,000 in June 2014. Although the national foreclosure inventory rate is back to pre-recession levels, the rate remains high in select areas hit hardest by the crisis, such as Florida and New Jersey.

Originally, Auction.com predicted the total number of existing-home sales to fall between 5.49 and 5.84 million annual sales with a targeted number of 5.67 million.

With no fundamental changes to the origination process in decades, the lost efficiency, increasing costs and decreasing profits, combined with ever-merging regulatory hurdles, have left a gap in the mortgage industry to be filled by "disruptors," who are innovators creating new business models to better serve the industry.

Almost immediately, PHH and its lawyers, Los Angeles-based Gibson Dunn & Crutcher, petitioned the District of Columbia U.S. Circuit Court of Appeals to “modify or set aside civil investigative demand” while the company made its case against what it called an abuse of power by the CFPB

With more Americans worried about where the economy is headed, fewer are optimistic about the prospect of selling their homes, according to Fannie Mae’s July National Housing Survey, released Friday.

Also of note, job gains for May and June were revised upward for a combined total of 14,000 more jobs than were originally reported, according to the BLS. Smoke said the job growth in the last year, which has been consistently strong in the last nine months, has been a key reason for stronger housing demand this year.

In February, Walter Investment announced the merger for the first time in its full year and fourth quarter 2014 operational highlights and financial results.