Servicing

Mom-and-pop lodging options are popular among vacationers on a budget. Vacant foreclosure rentals on the other hand are a novel type of short-term accommodation that may soon add to a traveler’s list of inexpensive options. If only REO managers embrace the idea.Marketing vacated REOs to seasonal tourists may seem like a stretch, but the upswing in the number and management costs of vacant REOs requires out-of-the-box management in areas that happen to be tourist attractions close to popular vacation sites.

Concerns that private label investors will swamp bank issuers with repurchase claims because of poor master servicing on the residential bonds are overblown, according to a new report from Credit Suisse.

Fannie Mae bought $39.9 billion of mortgages from its seller/servicers during September, the GSE's best purchase month of the year, and a sign that origination volume is strong in the primary market.

Investors had a strong positive reaction to The Radian Group's announcement of a third quarter profit of $112 million as they drove the company's stock price up nearly 15% on Tuesday morning.

The Government National Mortgage Association later this month will start providing MBS investors with new information about the percentage of modified single-family mortgages in its MBS pools.

Thanks to the national foreclosure mess, it could take up to 40 months to clear a 1.5 million unit "shadow inventory" tied to non-agency delinquent mortgages, foreclosures and REOs, according to a new report from FitchRatings.

The U.S. homeownership rate remained unchanged at 66.9% in the third quarter, but the foreclosure crisis is hitting minorities harder than whites, according to new government figures released Tuesday morning.

Consumers with home equity loans or lines of credit saw increased mortgage delinquency throughout the recession, according to a new study from TransUnion.

PHH Corp., the nation's seventh largest mortgage banking firm, posted an $8 million loss in the third quarter, after marking down the fair value of its mortgage servicing portfolio by $191 million.

Based on September survey data, the mortgage industry completed close to 150,000 permanent loan modifications for the month, according to HOPE NOW.