Servicing

Foreclosure related filings fell by almost 30% in the first-half to 1.17 million actions, but it appears much of the drop is attributable to processing and procedural delays, according to new figures compiled by RealtyTrac.

Those who've been holding their breath for a commercial real estate meltdown may want to exhale.

Federal Reserve Board Chairman Ben Bernanke told lawmakers Wednesday that fixing the nation's housing finance system remains "the main piece of unfinished business" in financial regulatory policy.

An analysis of 2010 expenditures for REO Allegiance reveals that the property preservation and eviction field services provider spent 42% of its revenue on minority- and women-owned contractors.

Since 2009, Wells Fargo has started or completed 687,047 mortgage modifications in its servicing portfolio.

A survey conducted by Movoto.com indicates that another drop in home prices could loom on the horizon if changes are not made to the short sale process. Out of Movoto’s 2,000 national real estate agents, 49.2% reported that the majority of homes listed in their market are short sales.

The applied analytics division of Lender Processing Services has formed its own home price index to help mortgage professionals estimate property values by looking at various trends taking place for properties throughout the country.

Fidelity National Financial Inc. on Wednesday agreed to sell its flood insurance business to WRM American Holdings LLC for $210 million.

More technology developers are releasing new or updated software to help servicers comply with new single point of contact policies.

Senator Barbara Boxer, D-Calif., is calling on the GSE regulator to expand the Home Affordable Refinancing Program to make it less expensive for underwater borrowers that are current on their Fannie Mae/Freddie Mac loans to refinance at lower rates.