Servicing

The agency prepares to sell MSRs left over from a 2009 failure.

Efforts to adjust to new market demands and comply with a heavily regulated mortgage lending marketplace involve anything from massive layoffs to speeding up loan processing automation.

The 30-day late payment rate dropped 16 basis points during the month as $1 billion of loans were disposed.

The bank plans to sell private-investor MSRs with unpaid principal balance of $13 billion to Walter subsidiary Green Tree Servicing.

Chase is transferring three bank-owned properties a day to housing and community revitalization groups.

The month typically sees fewer loans originated as the home buying season ends.

Lenders seized or sold at auction 51,000 housing units nationwide in September, down from 84,000 last year.

Lawyers for investors in Countrywide securities also ask to drop their objection.

Progress will be tougher going forward due to the high concentration of borrowers with junior liens and low-value properties.

The Mortgage Bankers Association thinks mortgage volumes will drop by a third next year. Industry execs we asked agreed originations will fall. Just how much? No agreement there.