Servicing

Higher mortgage rates are starting to take their toll on the origination business.

Redwood Trust on Tuesday filed notice with the Securities and Exchange Commission, signaling its intention to sell a $292 million MBS backed by jumbo mortgages.

The CMBS delinquency rate for multifamily product tracked by Moody's jumped 121 basis points in January, marking the biggest increase seen in that property class since the Peter Cooper Village and Stuyvesant Town loan was added to its calculations in March 2010.

Face-to-face mortgage counseling is by industry consensus the most efficient way to prevent foreclosures. The problem is that the number of those who could benefit from this type of counseling, those who are trying to and those who actually show up to meet with the lender are not always a match.

A pair of rulings from federal bankruptcy judges last week is adding a new wrinkle to the role of MERSCorp Inc. in state foreclosure proceedings.

The PMI Group, Walnut Creek, Calif., posted a $184 million loss in the fourth quarter, compared to $242 million of red ink spilled in the same period a year earlier.

Saxon Infotech Inc. of Columbia, Md., has launched a Housing Research Group, whose stated goal is to help identify the need for advocacy and new policy that would “address and solve current issues and curb future crisis.”Executives said it is a “mission-critical” project.

The Federal Deposit Insurance Corp. plans to close its West Coast temporary satellite office in Irvine, Calif., by the beginning of next year due to improving conditions in the banking industry.

Annaly Capital Management, a mortgage investing REIT, on Tuesday priced a $1.3 billion additional offering of stock, its second trip to the equity well within two months.

Richard Northcutt, a California real estate executive, pleaded guilty in U.S. District Court in Sacramento, Calif., to a conspiracy to rig bids and commit mail fraud at public real estate foreclosure auctions held in San Joaquin County.