Servicing

Joseph D’Urso is the new president at Green River Capital, a real estate owned asset management and loss mitigation provider for mortgage servicers, investment firms and banks based in West Valley City, Utah.

Walter Investment Management Corp., Tampa, Fla., has priced a private placement of residential mortgage-backed notes to be issued by Mid-State Capital Trust 2010-1. The offering consists of $135 million of notes secured by residential mortgage loans, building and installment sale contracts, promissory notes, related mortgages and other security agreements.

Flagstar Bank has closed on the sale of a $474 million portfolio of non-insured non-performing residential first mortgages.

Considered to be a deal broker and careful listener by those who have worked with him in the past, Joseph Smith is winning near-universal acclaim as President Obama's pick to lead the Federal Housing Finance Agency.

While the investment opportunities in the nonagency residential mortgage-backed securities space are not what they were in 2008, there is still opportunity there, executives at an internally managed real estate investment trust investing in nonagency and agency RMBS told attendees at a REIT conference in New York.

As temperatures begin to drop around the nation, mortgage servicers routinely take special precautions to protect or winterize the homes under their guardianship. Vacant properties can be very susceptible to damage from cold and freezing temperatures if proper measures are not taken to protect them inside and out.Annual winterization is based on the principle of ensuring steps are made to protect the value of the asset. With that said, servicers must remember that winterization season should not be limited to performing procedures that focus on a property’s heating and plumbing systems. Rather, there are other preservation practices that should complement this process.

Market estimates of cumulative losses of $400 billion at Fannie Mae and Freddie Mac are "overly pessimistic" declared analysts at Keefe, Bruyette & Woods.

Impac Mortgage Holdings, a former alt-A giant that survived both the housing bubble and a NYSE delisting, has launched a new wholesale division, promising the industry "pipeline transparency" and "industry innovation."

Sales of existing condominiums rose 15% in Florida in the third quarter as lower prices continued to attract both domestic and foreign bargain hunters.

Three U.S. senators are urging federal regulators to consider industry analysis of the default risks on certain loan products and features in drafting a rule that will exempt "qualified residential mortgages" from risk retention rules.