Servicing

Three years into the nationalization of housing finance by government-sponsored entities Fannie Mae, Freddie Mac and the Federal Housing Authority, it is time to start reducing their footprints.

The national 30-day delinquency rate improved by 2% in October over September and by nearly 15% compared to a year ago, according to a new "first look" report from Lender Processing Services, Jacksonville, Fla.

Due diligence provider Clayton Holdings LLC on Friday said it has agreed to buy Green River Capital, West Valley, Utah, a provider of REO, short sale and broker price opinions whose client base includes mortgage giant Freddie Mac.

Federal Home Loan Banks have been purchasing single-family mortgages from their member banks and thrifts since 1997—when the Chicago FHLB first launched its flagship Mortgage Partnership Finance program.

Mortgage bankers soon will able to originate Federal Housing Administration loans of up to $729,750 in high cost areas thanks to Congress, which passed a "minibus" appropriations bill Thursday night.

Some lenders are already chomping at the bit on 'HARP 2.0' and plan to hit the ground running to refinance Fannie Mae/Freddie Mac-backed mortgages when the application process commences on December 1.

The appeals court ruling against MERS that caused the GSEs and the Department of Housing and Urban Development to reinitiate foreclosures on more than 1,600 Michigan properties was overturned by the state's highest court this week.

CWCapital LLC, Boston, on Thursday revealed that it has bought $2.6 billion of Fannie Mae multifamily servicing rights from Citigroup. No price was disclosed.

Freddie Mac wants to securitize reperforming residential loans and plans to issue its first bond – a Participation Certificate – by the end of November.

Mortgage interest rates were essentially flat between this week and last, as good economic news kept the markets calm, according to the Freddie Mac Primary Mortgage Market Survey.