Servicing

Fannie Mae on Wednesday unveiled a new incentive program to compensate its seller/servicers that help struggling mortgagors avoid foreclosure.

A sharp drop in the level of loan loss provisions helped the banking industry earn $21.7 billion in the fourth quarter, the second highest quarterly total in more than three years, the Federal Deposit Insurance Corp. reported.

Residential refinancing activity in the fourth quarter pushed bank originations to the highest level since the spring of 2009 when the Federal Reserve was still purchasing mortgage-backed securities.

Easton Lynd Management has purchased a major asset on a distressed property for the first time in the firm’s history.

A new estimate by the Gwent Group found that real estate auctions accounted for $74.8 billion in sales during 2010.By including personal properties, auctions surpassed more than $284 billion in 2010.

As part of Marathon Asset Management’s focus on commercial real estate related debt opportunities, the credit asset management company closed a new investment to acquire a distressed retail center.

Single-family existing home sales rose 2.4% in January following a 12% jump in December, according to new figures compiled by the National Association of Realtors.

Though it's too early to declare that mortgage delinquencies are on the way down permanently, "We are seeing some bright spots," Anthony Renzi, Freddie Mac executive vice president of single family portfolio management, said during a press briefing at the Mortgage Bankers Association's servicing conference in Dallas Wednesday morning.

The Federal Housing Finance Agency Wednesday morning laid out its options for restructuring mortgage servicing compensation, including the possibility of eliminating the 25 basis point minimum paid on performing loans.

The State of Texas Real Estate Fund LP plans to raise $150 million to acquire commercial properties within the state.The fund, which was developed by long-time real estate investors Mark Jordan and Kevin White who will serve as its managing directors, will primarily target high quality distressed office, industrial and raw land in Austin, Dallas, Houston and San Antonio.