Servicing

Even if the GOP gains a chamber in the upcoming federal elections, chances are the Dodd-Frank legislation will not be changed in any substantive way, according to the top lobbyist for the Mortgage Bankers Association.

It's unlikely the government will release its grip on the housing market any time soon, the head of Freddie Mac told residential finance executives and vendors.

Mortgage vendor Default Resource has launched a new asset surveillance report that allows servicers to inspect and oversee the work performed by REO and short sale listing agents.

Mortgage servicers signed off on 27,840 new permanent HAMP modifications in September, down nearly 17% from the previous month, and a sign that the White House's signature foreclosure prevention program is losing steam.

Some large banks sold fewer mortgages to Fannie Mae and Freddie Mac during the third quarter, using them to manage interest rate risk and to slow the contraction of loans.

When times are tough, consumers, increasingly, are paying their credit card bills first and worrying about the mortgage later.

Home prices began to sag again in August as 17 of the 20 cities in the Standard & Poor's/Case-Shiller house price index posted month-to-month declines.

The 30-year fixed-rate mortgage may be under siege in some quarters, but not at the Mortgage Bankers Association convention in Atlanta, where it was defended as on par with motherhood and apple pie.

The robo-gate fiasco is more about faulty internal processes on the part of overwhelmed loan servicers than it is with the securitization of mortgages, a panel of key secondary market executive agreed at the Mortgage Bankers Association's convention in Atlanta. They also said the quicker lenders and investors address the problem, the better off they'll be.

Fears of undetected financial reporting fraud feeding into “foreclosure-gate”-type concerns are bringing together insiders worried about their industry’s future.Financial reporting supply chain representatives agree that increased collaboration and communication among industry participants “can greatly advance efforts to lessen fraud risk.”It was the main finding of a new report based on input from an industrywide roundtable discussion organized by the Center for Audit Quality in Washington.