Servicing news
Kate Berry | May 18
Competition is heating up among banks in the government's revised Home Affordable Refinance Program, which has helped spark a refi boom and contributed to strong mortgage profits at most banks.
Brian Collins | May 18
Unless Congress acts soon, the Federal Emergency Management Agency will not be able to issue new flood insurance policies after May 31.
Paul Muolo | May 18
You remember the HARP program, don’t you? Originally, the idea was to refinance current but high LTV Fannie Mae/Freddie Mac borrowers into new, lower-rate loans—provided they were current. Home values (and lack of equity) reeked havoc on the concept so Uncle Sam took the LTV girdle off.
Bonnie Sinnock | May 18
The long-term rate-indicative 10-year Treasury yield has officially dropped to and matched its 52-week low of 1.7%.
Paul Muolo | May 18
Let's assume that the recent downdraft in rates won't get any worse and then ask this very basic question: will those buying MSRs at today's rock bottom prices look like geniuses when the smoke finally clears?
Brian Collins | May 18
Home prices are beginning to stabilize thanks, in part, to loan modifications and the increasing use of short sales, according to CoreLogic.
Paul Muolo | May 18
Wells Fargo & Co. is in the market with a $200 million package of nonperforming residential loans, according to investors that have been briefed about the deal.
Brad Finkelstein | May 17
MGIC Investment Corp. has filed a lawsuit against Freddie Mac and its conservator, the Federal Housing Finance Agency, over the pool insurance dispute between the two companies.
Brad Finkelstein | May 17
Gateway is not only growing its retail business, but its newly started correspondent aggregator channel already has 20 approved clients.
Paul Muolo | May 17
Based on the comments appearing on our blogs and message boards, loan officers and mortgage brokers are overwhelmingly Republican. They don’t like too much regulation and given what’s transpired because of Dodd-Frank (regarding loan officer compensation) they’re fighting an uphill battle concerning how much money they can earn.
Evan Nemeroff | May 17
According to new figures compiled by RealtyTrac, servicers filed 188,780 notices of default in April, the lowest reading since July 2007.
Mark Fogarty | May 17
What does the future hold for the GSEs? Combined agencies? A GSE for nonconforming?
Brian Collins | May 16
Most Federal Reserve officials foresee a continued slow recovery in the housing market and some are optimistic the improvement may pleasantly surprise their fellow members on the Federal Open Market Committee.
Brad Finkelstein | May 16
Capital Trust, a real estate investment trust that invests in commercial real estate loans and securities, said it is exploring "strategic alternatives."
Brian Collins | May 16
Protracted negotiations generally revolve around the sales price and the formula used to determine if the borrower has the financial assets to offset some of the losses, according to FHFA acting director Edward DeMarco.
