Servicing

Can 150 foreclosure filings a day be a good thing? Yes, if the actions are in the tri-county South Florida region, where the pace is actually slowing, according to a new report.

With REO inventories increasing, there is a growing responsibility for brokers and field service providers to represent “an emotional interest” in the properties while appealing to potential buyers and their five senses during the marketing process.

The New York State Banking Department reports the total number of delinquent homeowners has doubled to 134,000.

The voice of reason: What is your best idea for Obama to help Fannie/Freddie? Fannie and Freddie need to stop the bleeding and need your ideas. What is your idea?

Celink, a reverse mortgage subservicer based in Lansing, Mich., will use Industry Consulting Group Inc., as its tax service provider.

The Department of Housing and Urban Development has rolled out a new $1 billion program to provide bridge loans of up to $50,000 for struggling mortgagors who have lost their jobs or suffered a significant loss of income.

Senator Richard Shelby, R-Ala., ranking Republican on the Senate Banking Committee, is calling on federal regulators to investigate the foreclosure problems at three major banks and report back to the committee.

Wells Fargo & Co. has agreed to pay $24 million to end an investigation by eight states looking into allegations that lenders acquired by the bank made risky payment option ARMs to consumers without disclosing their perils.

Ohio became the first state to sue a major servicer in the growing 'Foreclosure-gate' scandal, accusing the government-owned GMAC Mortgage of misleading the courts in hundreds of foreclosure cases by filing fraudulent affidavits.

PHH Corp., which controls the nation's eighth largest servicer, is likely to take a $100 million writedown on the value of its mortgage servicing rights in the third quarter, according to a new research report from FBR Capital Markets.