Servicing

Since launching its short sale module in November 2009, the default servicing technology provider Equator said approximately 1.2 million short sales have been facilitated through its platform.

The backlog of real estate owned homes held by banks and the government is "staggering," Fitch Inc. said.

One hallmark of the Dodd-Frank Act was the creation of the Office of Financial Research, an agency dedicated to collecting and sifting data from financial firms to help predict the next crisis.

Holiday retail sales gave the NACM's Credit Managers' Index a boost to a high not seen since May, but it remained below year-ago levels as many companies, including some in the mortgage space, are still in distress.

Fitch said Thursday it sees little risk of a negative rating impact on CMBS from the closure of 100 to 120 unspecified Sears and Kmart stores across the U.S., but noted there is some exposure in the commercial mortgage-backed securities universe to the concern.

Consumers are having a tough time qualifying for a mortgage these days, and even a federal program designed to provide financing for low- and moderate-income borrowers is winnowing out applicants with low credit scores.

Despite the hand-wringing and nail-biting, the Consumer Financial Protection Bureau made it through 2011 without any major confrontation with the banking industry.

The FDIC, which has seen nearly 100 banks fail during 2011, is projecting that figure may rise again in 2012.

A Rhode Island mortgage loan processor with National City Mortgage Co. has pleaded guilty to participating in a straw-borrowing scheme that brought in more than $3.5 million in fraudulently obtained mortgages.

A fourth quarter ranking of the best single-family rental markets for investment indicates half of the top 10 areas can be found in the Sunshine State.