Servicing

WASHINGTON — How to ensure the Federal Deposit Insurance Corp. has the flexibility it seeks while giving investors and issuers the certainty they need has emerged as the central sticking point confronting lawmakers interested in developing a covered bond market in the U.S.

Flagstar Bancorp — which continues to rank among the top 10 mortgage wholesalers in the U.S. — declined to confirm or deny that it is considering a $600 million offering of new equity.

Rhode Island enjoys a "really good" success rate when it comes to saving the homes of troubled borrowers, according to housing counselors speaking at the New England Mortgage Bankers Conference in Providence.

Mortgage servicers and banks foreclosed on more homes in August — 95,364 units — than in any month since the start of the U.S. mortgage crisis, according to new figures compiled by RealtyTrac Inc., Irvine, Calif.

Property preservation firms and third party vendors in the default servicing industry are collaborating more today with code enforcement professionals and real estate agents.

The Treasury's point man on GSE reform said Wednesday that the Obama White House will not propose any changes to government guarantees backing Fannie Mae and Freddie Mac MBS for fear of hurting the liquidity and functionality of the U.S. mortgage market.

When Eric Peterson buys foreclosed homes through courthouse trustee sales these days, the majority of borrowers are still living in the home rent-free, waiting to be evicted.

Arch Bay Capital, an investor and manager of delinquent mortgages, appears to have scuttled — for now — its plans to enter the origination business, according to industry officials that have worked with the firm.

International real estate investment company Kennedy Wilson has been retained to conduct a sealed bid auction for bank-owned properties in six states including Nevada, California, Oregon, Florida, Arkansas and Colorado.