Servicing

BB&T Corp. cautioned that it could experience "elevated charge-offs" in the third quarter as it gets more aggressive in disposing of bad loans.

The nation's GSE regulator Wednesday voiced his concern about the slow pace of seller/servicers repurchasing problem loans from Fannie Mae and Freddie Mac, singling out the nation's megabanks for their poor performance in this area.

What’s a sure-fire way for the White House to win the hearts and minds of voters? Answer: If a consumer has a Fannie Mae/Freddie Mac mortgage the government can wave a magic wand and reduce his 6% loan down to a market rate of 4%. Sounds simple, doesn’t it?

Let’s go back a few decades and take a look at how commercial banks viewed the mortgage industry. In the 1980s and early 1990s Norwest Mortgage (now Wells Fargo) was a top-ranked player in residential finance as was CitiBank, Bank of Boston and Fleet. Otherwise, it was a business dominated by nonbanks and thrifts.

Once statistical accuracy is factored in, housing and mortgage databases can never be large enough and may be leading the way to one-stop shopping mega-pools.Such privately owned housing data pools may not yet be able to compete with the IRS or other federal resources but they already are important to millions of people. Or depending on one’s point of view: millions of potential mortgage clients.

A real estate Investor is seeing growth potential in partnering with local builders and developers.Mountain Real Estate Capital, the equity investment arm of the Mountain Real Estate Group, Charlotte, N.C., closed on a couple of such joint venture equity investments through the second quarter.

Veros Real Estate Solutions has integrated its VeroSelect and Valuation Risk Management products with a la mode's Mercury Network appraiser vendor management platform, enabling observance of government-sponsored enterprise secondary market loan quality initiatives.

CoreLogic and Blueberry Systems have formed a partnership to offer fraud prevention technology to lenders and servicers.

Bank of America Corp., the nation's largest servicer of home mortgages, should repurchase up to $20 billion of loans that were based on wrong or missing information, according to a bond insurer trade group.

Privately held tracking firm ForeclosureRadar, Discovery, Calif., has changed the name of its foreclosure report after expanding coverage to Arizona, Nevada, Oregon, and Washington.