Servicing

Presidential candidate Newt Gingrich made between $1.6 million and $1.8 million in consulting fees from two contracts he had with Freddie Mac (prior to its federal takeover), according to a report from Bloomberg.

Residential application volume fell 10% on a seasonally adjusted basis for the week ending Nov. 11, as interest rates remained essentially flat compared to the previous week, according to new figures compiled by the Mortgage Bankers Association.

The Federal Home Loan Bank of Chicago is expanding its Mortgage Partnership Finance product line for Fannie Mae-eligible loans by offering a 'servicing released' option for the first time.

The House Financial Services Committee approved a bill Tuesday by a 52 to 4 vote that would limit executives' salaries at Fannie Mae and Freddie Mac and remove any extra "bonus" pay.

House and Senate appropriators approved more funds for a foreclosure mitigation program and included another short-term extension of the National Flood Insurance Program in a spending bill expected to pass this week.

Fannie Mae and Freddie Mac late Tuesday afternoon released a somewhat detailed bulletin on the underwriting guidelines for refinancing underwater borrowers with GSE loans, segmenting what's allowable based on the LTV and if the product is being offered by the current servicer.

Despite the slow economic recovery and challenges that range from federal regulations to hiring and sustaining qualified staff, the glass is half full for up to 70% of the small business owners, including special servicers, real estate brokers and mortgage technology vendors surveyed by The Hartford Financial Services Group Inc.

Impac Mortgage Holdings earned $3.1 million in the third quarter thanks to gains from the sale of a title insurance affiliate and fees garnered from mortgage and real estate services, which offset legacy costs and charges.

Two Michigan registers of deeds have filed a class action lawsuit against Mortgage Electronic Registration Systems for allegedly not paying proper county and state transfer taxes.

PennyMac Mortgage Investment Trust recently entered into a master repurchase agreement with Bank of America that allows a subsidiary of the publicly traded REIT to sell -- and later repurchase -- new originations in an aggregate principal amount of up to $200 million.