Servicing

The completion of the foreclosure process in judicial states rose to their highest point in two years, contributing to an overall decline in foreclosure inventories nationwide.

Wells Fargo also made a commitment to invest $39 million in 45 communities to provide support for neighborhood stabilization, property rehabilitation and housing development.

The Scottsdale, Ariz.-based landlord, which began buying foreclosed homes and converting them into rentals last year, had planned to raise as much as $260 million in an IPO this week.

With the housing market recovering, Wells Fargo plans to ramp up the marketing of a credit card that allows customers to use reward points to pay down their mortgage.

One company sold a package of fixed-rate and agency-backed MBS. It then parked the proceeds into variable-rate mortgage securities.

Inherent market risks are not stopping real estate owners from choosing to operate as niche real estate investment trusts, according to Fitch Ratings.

Once a real estate agent gets a short sale offer on a Fannie Mae REO property, the GSE wants to see a copy right away to help expedite processing.

The Dow falls under 15,000 and most mortgage stocks close lower as well.

Fannie Mae’s SMDU is a technology platform that provides servicers with real-time decisions on mortgage loan modifications and other solutions for homeowners with payment challenges.

Massachusetts foreclosure activity through April remained at levels dramatically lower than those recorded last year.