Servicing

In several different venues Friday morning, Treasury Secretary Timothy Geithner defended the administration's decision not to offer a full-fledged plan for the future of the housing market, insisting that Congress had only asked for an array of options.

Mortgage servicing may be changing and self-adjusting into a new still-not completely undefined model, but the fact that it appears to be a work in progress is not discouraging bankers from eyeing what it has to offer.Without much fanfare the crisis has irreversibly turned in-house mortgage servicing and specialty servicing into hot markets.

Federal Reserve Board Gov. Sarah Bloom Raskin believes the mortgage servicing industry needs to overhaul its practices and be more accountable, delivering the central bank's toughest words to date on the subject.

As the "third" housing GSE, the Federal Home Loan Bank System also is slated for downsizing under the Obama administration's plan for restructuring the residential finance system.

What will happen to all the problem real estate loans that have multiplied exponentially it seems, in the past few years? That’s a topic as hot as today’s headlines. We’ve just reported that Ally Financial sold off $596 million in nonperforming loans during the fourth quarter.

After receiving notice that he’s under investigation by the Securities and Exchange Commission, CoreLogic Chief Financial Officer Anthony "Buddy" Piszel resigned late Thursday.

Not only is the Obama Administration pledging to wind down Fannie Mae and Freddie Mac over the next seven years, but its new plan makes it clear that it will constrain the growth of the Federal Housing Administration's single-family loan program.

Increased oversight should help the Federal Housing Administration sell more repossessed homes quickly, and at the right price.

HSBC Holdings is currently reviewing a first round of bids taken on its $60 billion residential servicing portfolio, but has yet to make a decision on the sale, according to industry advisors familiar with the matter.

Freddie Mac chief operating officer Bruce Witherell abruptly announced his resignation from the company earlier this week, saying he was leaving for "personal reasons."