Servicing

The $150 billion or so that U.S. taxpayers have spent to prop up Fannie Mae and Freddie Mac is "gone and won't be coming back," according to former Federal Home Loan Bank Board member Larry White.

The mortgage origination business will see a growth in the adoption of the Keiretsu model of doing business by leveraging vendor relationships on a single cloud technology platform, declared executives at Dorado Corp.

The Government National Mortgage Association is weighing its options on what to do with $22 billion in servicing rights it yanked away from Taylor Bean & Whitaker in the summer of 2009.

Moody’s Investors Service has added information related to deficiencies, international securities identification and credit enhancement to performance overview reports on residential mortgage- and asset-backed securities in Europe, the Middle East and Africa.

The “moral hazard” that keeps many Americans from defaulting on their mortgage loans is being turned upside down as a survey found that nearly half said if their lender was accused of predatory practices they would have no qualms about not paying, even if they were morally opposed to strategic defaults.

Rep. Randy Neugebauer, the new chairman of the House Financial Services Oversight Subcommittee, believes the guarantee fees Fannie Mae and Freddie Mac charge its seller/servicers are underpriced and should be increased.

Since the government seized control of Fannie Mae and Freddie Mac in the fall of 2008, the two have spent more than $160 million defending the firms and their former top executives in civil lawsuits.

Lender Processing Services, Jacksonville, Fla., during its year-end processing cycle handled some 37 million loans for 67 mortgage servicers in one day, Jan. 1.

Paul Bognanno will succeed R.K. Arnold as interim CEO of MERSCORP, Reston, VA.

Mortgage servicers that provide troubled borrowers with a 'single point of contact' to help them through loan modifications and workouts avoid costly delays and customer confusion, according to a Fannie Mae executive.