Servicing

Mortgage balances on consumer credit reports dropped by about $114 billion or 1.3% during the third quarter, according to the Federal Reserve Bank of New York's latest report on household debt and credit.

The Attorney General of Arizona has filed a complaint against Mortgage Capital USA and its CEO, Gustavo Anaya, for allegedly conducting an illegal home loan modification scheme involving multiple business entities.

DebtX is currently selling $416 million in performing and nonperforming loans for 14 financial institutions and the Department of Housing and Urban Development.

It would seem that Federal Housing Finance Agency chief Edward DeMarco has given up hope that Congress will get around to permanently fixing Fannie Mae and Freddie Mac.

The Federal Housing Administration in early December will seek bids on a small pool of defaulted single-family loans and plans to conduct additional auctions in April and September of next year.

Government officials are likely to lessen large banks' liabilities over how they handled delinquent Federal Housing Administration-insured mortgages as part of a settlement with the largest mortgage servicers, according to people briefed on the negotiations.

Even though the residential mortgage industry has been through the wringer the past four years outside money is continuing to eye the sector, but is being choosey about what it buys -- and how much it spends on both companies and servicing rights.

The PMI Group Inc., Walnut Creek, Calif., has filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware.

After more than a year of declines, foreclosure activity rose in Massachusetts in October, according to the Boston-based real estate data publisher The Warren Group.

Given how volatile the public capital markets have been recently, some real estate investment executives speaking in New York recently said they have been finding private markets relatively more attractive.