Servicing

The median price of a home sold in June was $193,750, up 12.6% from the same month last year, according to the Re/Max Housing Report.

Fitch did note that while multifamily starts were down in June, the residential numbers were better.

Despite the recent market turbulence Home Loan Servicing Solutions reported net income of $27.9 million for the second quarter and expects to see further growth.

New business practices mandated by regulators in an effort to reform the primary mortgage servicer market appear to have leveled off large versus small bank differences in customer satisfaction.

Astoria Financial Corp. reported net income of $12.8 million in 2Q13, similar to its earnings for the same period in 2012.

At least $238 million of the more than $575 million that was raised for Sandy relief had not been spent as of April of this year.

Averaged over the course of the week ending July 18, the 30-year mortgage rate tracked by Freddie Mac dropped 14 basis points to 4.37%.

Home sales activity and home price growth was greater in nearly every market during June.

Fay Servicing has developed an employee training program that focuses on borrower management skills and teaches new hires how to foster close relationships with mortgage borrowers.

Flagstar Bancorp plans to shift the focus of its mortgage servicing business to performing servicing assets and outsource its noncore default servicing business.