Servicing

Sales of existing homes rose 10% sequentially in September to a seasonally adjusted annual rate of 4.53 million units, but were down 19% compared to the same month a year ago, according to figures compiled by the National Association of Realtors.

Federal Reserve chairman Ben Bernanke said the central bank is "looking intensively" at the foreclosure and servicing practices of the nation's largest banks to see if these institutions are improperly taking homes.

Builders nationwide have complained they can't compete with sales of distressed homes. But a Tempe, Ariz., outfit is using the drawbacks associated with buying foreclosed homes to fight back.

Ginnie Mae issuers securitized a near record $413 billion of government-guaranteed residential loans in fiscal year 2010, according to figures released Friday afternoon.

Even the American Civil Liberties Union is weighing in on the foreclosure crisis, questioning whether some homeowners are having their constitutional rights violated and being unlawfully removed from their homes.

With refinancing applications booming across the country, warehouse lending volumes are quickly rising at ViewPoint Bank, Plano, Texas, which entered the space about two years ago.

With Fannie Mae suing insurance carriers over coverage for the $140 million fraud at U.S. Mortgage/CU National Mortgage, credit unions victimized in the scandal are wondering whether any recovered funds will be used to compensate them for their losses.

Bank of America Corp. and GMAC Mortgage may be restarting some foreclosures, but this does not mean their legal problems with bad documents are over.

HSBC Bank USA is now actively marketing the servicing portfolio of its mortgage division as a stand alone asset, according to investment banking officials familiar with the matter.

WASHINGTON—When it comes to Fannie Mae and Freddie Mac, the maverick chair of the Federal Deposit Insurance Corp. believes the Obama administration must either fish or cut bait.