Servicing

Retail originations by commercial banks and savings institutions fell 30% in the first quarter, on a sequential basis, according to new figures compiled by the Federal Deposit Insurance Corp.

Residential Credit Solutions on Tuesday said it sold a $110.6 million asset-backed security collateralized by performing and delinquent mortgages, real estate loans, and property.

CitiMortgage claims that 65% of the attendees at the first four stops of its ‘Road to Recovery’ tour qualified for a loan modification program.

Sterling American Properties is giving up a struggling three-building office complex in Hauppauge, N.Y., to its creditors after more than a year of missed mortgage payments.

In the big picture, while investors counting on muted prepayments today are perhaps not completely ignoring falling rates, they do appear to be less worried about them than government policies.

Carrington Mortgage Services and the Attorney General of Ohio have reached an agreement to work collaboratively in order to help struggling homeowners who are facing foreclosure.

GMAC Mortgage has deals in place with the 19 government agencies that are participating in a ‘Hardest Hit Fund’ to provide assistance to distressed mortgage borrowers.

A private-government partnership fund could assist “underwater borrowers” and actively engage small-size banks in national efforts to speed up the housing market recovery, according to a mortgage market veteran.

Although the banking industry had its best quarter since the start of the financial crisis, the number of depositories at risk of failing in 1Q accounted for nearly 12% of the sector – the highest reading in 18 years.

Columbia Credit Union, Vancouver, Wash., this week inked a deal with Security One Lending, allowing the CU to offer its customers reverse mortgages.