Servicing

eTEC Appraisal Management Solutions in Phoenix is forming a new partnership with Affiliated Lender Services, a Florida-based vendor and consulting firm for mortgage lenders.

Residential home sales plummeted 30% in July from June, according to the RE/MAX National Housing Report, which provides an early reading of actual closings.

Financial Asset Services, Inc., Irvine, Calif., a national asset management company, has launched a new Door Knock service designed to help mortgage servicers in their loss mitigation efforts.

New industry research confirms what servicers and loss mitigation specialists have been saying in recent months: demand for short sales is going through the roof.

All homeowners current on their mortgages need to be refinanced into a mortgage with a 4.5% interest rate to help the economy, said Ted Jones, the chief economist at Stewart Title.

Declines in new default notices, which were down on a year-over-year basis for the sixth straight month in July, are being offset by near-record levels of bank repossessions, and REOs continue to skyrocket compared to a year ago for the eighth straight month, according to RealtyTrac.

Austin Bergstrom International Airport's Hilton hotel faces a deepening financial hole in the wake of a series of defaults on $49 million of revenue bonds, according to a recent audit.

The Department of Housing and Urban Development is awarding contracts to 23 companies to serve as asset managers and 32 other firms to serve as field service managers under the third generation of its management and marketing program, known as M&M III.

Fitch has made plans to review mortgage loan repurchases by Fannie Mae and Freddie Mac to see if they could affect the ratings of U.S. banks.