Servicing

The Obama administration has designated July 21, 2011 as the date the Consumer Financial Protection Bureau will take over enforcement of RESPA, TILA and other federal consumer protection laws that directly impact mortgage bankers.

Defaults on commercial real estate loans are beginning to play a larger role in the failure of FDIC-insured institutions than construction loans, according to Trepp LLC.

Government-backed loans continued to grab a larger slice of the mortgage market last year, according to new Home Mortgage Disclosure Act data released Monday.

As the national foreclosure prevention campaign and other efforts mature, loan modification fraud is becoming more defined, increasingly falling into two categories. And in both cases, it only takes a weak link in the mortgage-servicing process to open the door to thousands of dollars in losses.

It would appear that the days of Fannie Mae and Freddie Mac being “kinder and gentler” owners of problem mortgages could be coming to an end.

The total dollar amount of outstanding subprime loans in the nation fell to $714 billion at June 30, a 45% decline from the peak back in 2007, according to figures compiled by National Mortgage News and the Quarterly Data Report.

Technology provider DataVerify has enhanced its enterprise-wide fraud management platform, DRIVE, to help mortgage lenders identify and avoid potential short sale and property flipping losses.

Prestwick Mortgage Group of Virginia is selling a $197 million package of residential servicing rights tied to Georgia loans guaranteed by Fannie Mae and Freddie Mac.

If a home is underwater but the borrower keeps paying the second mortgage (though maybe not the first), can that junior lien be worth anywhere near face value?

With all of the problems in the mortgage industry, a new study appears to show that being 60 days late on mortgage payments is not as big of a concern as it used to be.