Servicing

Local housing counselors are racing to sign up unemployed and underemployed homeowners by July 22 so they can qualify for federal loans that cover a portion of their mortgage payments for up to 24 months.

Second quarter bank and thrift earnings could see "some pressure" as a result of "relatively weak" revenues from their mortgage banking businesses, a report from FBR Capital Markets warns.

The new era in field services has changed the job description for both field service companies and their employees.

The crisis has turned property valuations into one of the biggest challenges for the mortgage industry, especially for managers of bank-owned properties feeding demand for valuation tools.

A new alliance between the U.S. Conference of Mayors and Wells Fargo Home Mortgage, designed to address foreclosure prevention, property disposition, homeownership promotion and community development over a three-year period, will combine strategies developed by Wells Fargo and outreach initiatives conducted by the mayors and their constituents.

Florida’s condominium owners may have won a few legal battles that could teach a thing or two to peers facing foreclosure related hardship in other states.

Much in the spirit of “we all are in this together,” city officials from America’s endangered cities are tapping into the wisdom of cross-discipline experts to examine housing and overall economic challenges to find long-term solutions.

Differences between vacant and occupied properties tend to be striking. The foreclosure law, however, is the same. And that, insiders say, is a huge problem with short- and long-term consequences.

The Private National Mortgage Acceptance Corp. plans to make a big splash in warehouse lending and late this week unveiled who will lead the effort -- Paul Szymanski, once a top warehouse executive at the number one player in that niche: Bank of America.

Glen A. Messina is the new chief operating officer at PHH Corp., Mount Laurel, N.J., where he will oversee, among other things, the operations of PHH Mortgage.