Servicing

First Guaranty Mortgage Corp. has created a division in its third-party originator group to focus on producing Department of Agriculture Rural Housing program mortgages.

We're hearing that some folks enjoy my creative use of metaphors in my weekly columns, which at least proves that some mortgage bankers have a sense of humor even as times get tough.

The Federal Housing Administration is currently reviewing all single-family loans that default during the first 24 months.

Envoy Mortgage, currently engaged in enhancing and restructuring its mortgage banking capabilities, is choosing in-house servicing over subservicing.

Customer advocacy groups recently targeted Bank of America and JPMorgan Chase headquarters during annual shareholder board meetings to protest against mortgage lending discrimination and abusive foreclosure practices.

Radian Guaranty reports it did $4.56 billion of primary new insurance written in May, topping April’s $4.1 billion.

The lender foreclosed on The Mall at Whitney Field, based in Leominster, Mass., in November 2010 with a $72.2 million loan balance.

Two mortgage servicing rights portfolios are going up for bid, one a $1.7 billion Fannie Mae, Freddie Mac and Ginnie Mae portfolio, and one a $301 million Fannie Mae portfolio.

Conix Inc. has just completed a $42 million nonperforming loan securitization.

Process efficiency is name of the game in a mortgage environment where originators will be looking at every dime spent versus received