Servicing

The first phase of the HARP 2.0 program is now underway, and seller/servicers that control GSE MSRs appear to be in the best position when it comes to refinancing high LTV Fannie Mae and Freddie Mac loans.

Wells Fargo & Co. – as the industry is quite aware – is a dominant force in both residential production and servicing, but it continues to tower above all competitors in the GNMA MBS market.

The trend of U.S. credit cardholders putting credit card payments ahead of mortgage payments that began in early 2008 shows no sign of abating in the immediate future even as the economy gradually improves, TransUnion LLC analysts say.

After rating the performance of its top 10 HAMP servicers, the Treasury Department said JPMorgan Chase, and Bank of America need to make further improvements before they receive incentive payments from the government.

The mortgage industry is having growing concerns about a payroll tax relief measure that would raise GSE guarantee fees by 12.5 basis points, using the additional revenues to pay for other government programs.

Between foreclosures and paying down their loans through "cash-in" refinancings, the nation's mortgagors are continuing to whittle down their housing debt-and that's bad news for the nation's servicers.

A Georgia bank and nearby homeowners association management company have resolved five months worth of unpaid homeowners association claims with the help of Sperlonga Data & Analytics.

According to a Government Accountability Office report, while banks "are not properly maintaining" the growing number of vacant and foreclosed properties nationwide, resources required to demolish the large number of long-term vacant properties have exceeded local budgets.

JCF Real Estate has been named the court-appointed receiver on seven additional Illinois properties during the third quarter.

Citigroup Inc. has started job cuts this quarter that will affect nearly 4,500 people, chief executive Vikram Pandit said on Tuesday.