Servicing

Jumbo loan production—in particular non-GSE jumbos—has increased nicely the past few quarters, but it appears that hopes for a revival in the securitization market for these mortgages may be stillborn.

Mortgage servicers completed 120,350 proprietary loan modifications in July and 757,750 for the first seven months of this year, according to new figures released by the HOPE Now Alliance.

Fannie Mae and Freddie Mac will require homeowners with "green energy" loans from municipalities to pay them off when refinancing their mortgages — unless the borrowers don't have enough equity, in which case the green liens can stay.

The outlook for commercial real estate loans that collateralize CMBS continues to improve due to increased activity in the CMBS new issue market and strong demand for distressed CRE loans in the secondary market, according to one full-service loan sale advisor for commercial debt.

Nara Bancorp sold a $61 million pool of troubled commercial mortgages to Garrison Investment Group of New York for about 63 cents on the dollar.

Large banks are agreeing to give local governments and nonprofit groups the ability to buy foreclosed homes before they are sold to private investors, according to a report in the Associated Press.

MetLife Bank plans to officially launch its new warehouse lending division in the fourth quarter and is in the process of hiring between four and six additional staffers for the business.

Servicers may be missing out on mortgage technology advances of the past few years due to capacity pressures and HAMP compliance challenges.

Mortgage bankers originated $25.9 billion of Federal Housing Administration-backed mortgages in July, down nearly 2% from June, according to new figures released by the agency.

At least one expert sees Section 702 of the Helping Families Save Their Homes Act as a "grossly underutilized" strategy that could minimize homeowner abandonment and neglect.