Servicing

The Obama Administration approved $600 million in federal assistance for struggling homeowners in five states — money that will be used to help the unemployed pay their loans or assist in short sales or similar transactions.

PulteGroup Inc.'s year-to-year reduction in land and mortgage-related charges combined with a tax benefit contributed to a net profit in the second quarter.

Joseph Jiampietro, a key advisor on failed bank resolutions, is leaving the Federal Deposit Insurance Corp. after 16 months at the agency.

Rick Rieder, who has been head of corporate credit at BlackRock, has taken on responsibility for the multi-sector and mortgage group at the company in his promotion to chief investment officer.

A private sampling of Rural Housing Service loan originations discovered that lenders have become more lax this year in verifying income and the employment of borrowers.

Special assessment and tax-increment financing bonds from regions prone to property bubbles and busts are most vulnerable to the continuing weakness of the commercial real estate market, according to a Fitch Ratings report released Tuesday.

PennyMac Mortgage Investment Trust, a publicly traded vulture fund formed by former Countrywide president Stan Kurland, earned $8.2 million in the second quarter, almost six-times its profit in the prior period.

The increase in delinquencies on commercial mortgage-backed securities has slowed over the past two months with some analysts hoping the worst might be over for the sector.

Efforts are being made to proactively protect homes in default and foreclosure by sharing valuable information regarding appraisal fraud in short sale transactions.