Servicing

Fannie Mae and Freddie Mac will suspend the evictions of foreclosed single-family properties during the holiday season, according to the government-sponsored enterprises.

Movement Mortgage will pay $1.1 million in penalties and customer refunds to settle charges by California regulators it serviced loans without a state license and for collecting unearned interest.

Bank of America is exiting the mortgage lien release business by entering into an agreement to sell this unit to First American Financial Corp.

Fannie Mae is starting to relocate staff in the Dallas area into a new office and will soon move its Washington, D.C., headquarters.

Mortgage industry hiring and new job appointments for the week ending Dec. 8.

Securitization of nonperforming home equity conversion loans was pioneered by Nationstar; FAC's inaugural deal may be outstanding longer.

Stephanie W. Cowart, former executive director of the Niagara Falls Housing Authority, admitted to working with her son and daughter-in-law to steal $17,580 from the authority and the state.

Cutting payments helps stave off default, but principal reduction on underwater loans and lower consumer debt levels are less effective, according to JPMorgan Chase Institute's new study of post-crisis modifications.

RCO Legal, once one of the largest foreclosure law firms in the Northwest, is shutting down permanently in December, a victim of the strong economy and housing market.

Newfi Lending is now approved by Fannie Mae as a seller/subservicer and by the Federal Housing Administration as a "Full Eagle" Mortgagee.