Servicing

Walter Investment Management Corp. posted a $61.7 million loss in the third quarter, citing higher operating and debt costs tied to its purchase of specialty servicer Green Tree Servicing, St. Paul, Minn.

The Mortgage Bankers Association posted a $28.4 million loss for its fiscal year ending September 30, 2010, almost double the loss it suffered the year before.

County and state officials are turning up the heat on MERS, as recent lawsuits filed in Florida and Delaware challenge the validity and accuracy of the mortgage industry-controlled loan registry.

Mortgage Guaranty Insurance Corp.'s delinquent loan inventory declined by over 1,000 loans in October although new notices outpaced cures by 3,500 loans.

Whether users call it a one-stop shop, bounded services or component servicing, vendors are racing to leverage easy-to-use technology that can be constantly updated with new tools capable to help manage the mortgage servicing process and enhance the resale value of distressed properties.

The government's effort to streamline its refinancing program for mortgage borrowers who owe more than their homes are worth will amount to a wealth transfer from investors. But which investors? And how much of a transfer?

The Prestwick Mortgage Group is selling a $406 million package of GNMA mortgage servicing rights for an undisclosed mortgage banking firm.

Although the chances are slim, the conforming loan limit in a few high-cost housing markets could rise on January 1.

Data indicate the current volatility in commercial real estate prices and loan traffic in and out of delinquency will continue to keep billions in securitized CRE loans under the auspices of special servicers.

Foreclosure start rates on securitized, severely delinquent residential mortgage loans increased to over 10% a month and closer to historical averages, according to the latest RMBS Performance Metrics report from Fitch Ratings.