Servicing

Thanks to lower interest rates, mortgage application volume rose 13% for the week ending February 18, according to new figures compiled by the Mortgage Bankers Association.

Yearend financial reports by several Federal Home Loan Banks show these "other" housing GSEs are returning to profitability, while experiencing a lower level of losses on their holdings of private-label mortgage-backed securities.

It appears that home values may have further to fall – a lot further, according to Yale economist Robert Shiller, whose name is attached to the Case-Shiller home price index.

Roughly 708 foreclosures and 3,370 housing 'short sales' are on the market in Orange County, Calif., accounting for 38% of available homes to purchase, according to figures compiled by Altera Real Estate.

Mortgage bankers that are members of the Lenders One cooperative funded $90 billion of single-family loans in 2010, a 17% jump from the prior year, and its best showing ever.

Wells Fargo & Co., which has emerged as a constant seller of delinquent mortgages, is offering roughly $350 million worth of whole loans, some of which are nonperforming, according to investment banking sources.

The National Credit Union Administration has proposed a new investment rule that eliminates the need to obtain top grades from Wall Street rating agencies, replacing it instead with the judgment of a credit union's management.

The Government National Mortgage Association's MBS program has experienced unprecedented growth the past two years and now the agency wants to nearly triple its allotment for salaries to $30 million, allowing it to hire additional staff while reducing its dependence on outside contractors.

The January Lender Processing Services, Inc. Mortgage Monitor report once again shows that if there is a light at the end of the tunnel it is still quite far away as the number of properties that are 30 days or more delinquent or in foreclosure remains at a staggering 6.922 million.

Fresh off its first-ever time hosting the Super Bowl, the Dallas-Fort Worth region will play host to the Mortgage Bankers Association and its National Mortgage Servicing Conference & Expo.