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Servicing news
In just a few years, a popular mall with high-end anchor stores and boutique retail tenants can fall into substandard property condition, leaving commercial mortgage bond investors with outsized losses on their exposure to these properties.
Many lenders are still reluctant to give mortgages to borrowers with less-than-pristine credit, yet such loans are far more likely than prime jumbo loans to be bundled into collateral bonds. Sreeni Prabhu of Angel Oak Capital credits banks' behavior and higher interest rates for that reality.
Fitch has taken a slightly dimmer view of Midland Loan Services' ability to workout distressed commercial mortgages.
U.S. Bank is seeking foreclosure of a $28.3 million loan on a two-building complex in the InterQuest Corporate Campus that houses two technology companies in the county's largest such filing in seven years.
In the wake of a new state law regarding zombie properties, one bank has chosen to give two properties back to the city of Rome, N.Y.
Ocwen Financial Corp.'s loan servicing subsidiary has reached a settlement with the Washington State Department of Financial Institutions' consumer services division over the servicer's practice of using unlicensed offshore companies.
PHH Corp. will lose nearly a third of its subservicing portfolio as HSBC Bank agreed to sell the mortgage servicing rights on 139,000 loans.
Mortgage industry hiring and new job appointments for the week ending Aug. 26.
Metro Toledo, Ohio, and three other other cities are among the worst areas in the country when it comes to the percentage of homes still "seriously" underwater.
Nationstar Mortgage Holdings plans to open a new customer contact center in Longview, Texas.
The Federal Housing Finance Agency announced the extension of the Home Affordable Refinancing Program through September 2017 as well as the creation of a new program for those with high loan-to-value ratios.
Foreclosure activity in Colorado Springs continues to decline, thanks in large part to a stronger housing market.
The Maryland Judiciary and Maryland Volunteer Lawyers Service have created videos to help homeowners understand foreclosure.
Liquidity is waning in markets for residential mortgages and related securities, and regulators and policymakers need to address this issue before it turns into a crisis, according to Kroll Bond Rating Agency.
The Colorado Attorney General's Office has settled a lawsuit against a Colorado Springs company and four of its owners and employees requiring them to pay $125,000 for allegedly charging homeowners a fee to get back excess funds from homes that were lost through foreclosure.
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