Servicing

PHH Corp., Mt. Laurel, N.J., expects to more than double its fourth quarter profit to $181 million, thanks in part, to a huge upward adjustment concerning the value of its residential mortgage servicing rights.

The sector of real estate investment trusts that specialize in the secondary mortgage market will post returns on equity averaging in the mid-teens for the fourth quarter, a Credit Suisse analyst predicted in research released this week.

Flagstar Bancorp Inc., Troy, Mich., lost $192 million in the fourth quarter of 2010, compared with a loss of $23 million in the third quarter of that year and a loss of $72 million for the fourth quarter of 2009.

U.S. Treasury equity in the public-private investment program that was designed to support market functioning and facilitate price discovery in legacy mortgage-backed securities markets has produced a 27% gain since its inception, according to the Treasury’s fourth quarter 2010 update.

The seasonally adjusted application volume index fell by 12.9% from the previous week spurred by refinance applications falling to their lowest number in the past 12 months, according to new figures released by the Mortgage Bankers Association.

Foreclosures on Federal Housing Administration-insured loans spiked by more than 40% in fiscal year 2010 as losses per REO averaged $76,000, according to new government figures.

Certain states — including California and Virginia — are contemplating changing their real estate laws to require any mortgage firm pursuing a foreclosure to recreate all the transfers and assignments of a loan, according to real estate attorneys.

Despite budding economic improvements funding and liquidity hardships may persist in 2011, especially for small businesses. More resources, however, may be available in not so traditional places.

Sometimes local solutions can ease up the lack of a credit challenge many small businesses are currently facing. Size works to their advantage as small shops have more agility and flexibility to adapt to market demands and in the process promote community growth, which is why any size assistance can help.

From changing social behavior to defining business conduct, the explosion of social technology tools through MySpace, Facebook, Twitter and LinkedIn are expected to dramatically revise organizational existence in 2011.“We ain’t seen nothing yet,” says technology innovation expert Scott Klososky, author of “Enterprise Social Technology,” one of the first books to focus on online publicity.