Servicing

The Independent Community Bankers of America is urging Congress to advance legislation to limit the adverse consequences of new Consumer Financial Protection Bureau mortgage rules.

The operators of this scheme have been banned from offering any type of mortgage and debt assistance business services to consumers.

Fannie Mae’s home loan volume projection is slightly more pessimistic than it previously forecast, but more optimistic than the Mortgage Bankers Association’s recent downward revision.

The first Black Knight Financial Services mortgage monitor report revealed that purchase loans now account for over 50% of total originations.

The government’s dominating presence in the mortgage business is likely to continue for some time, says Rick Sharga.

Real estate portfolios helped boost net mortgage banking income in the fourth quarter of 2013 when it reduced more headcount to offset declining origination volumes.

Revenue exceeded spending by $53 billion last month, compared with a $1.2 billion deficit in December 2012, the Treasury Department said.

The petitions were filed on four assets to preserve current value and realize full potential value through either a plan of reorganization or orderly marketing and sale.

Jan. 10 has brought nine tough new servicing rules from the Consumer Financial Protection Bureau.

The Dutch State Treasury Agency has invited Bank of America Merrill Lynch, Barclays, Citigroup, Credit Suisse, Goldman Sachs and Morgan Stanley to bid on the assets.