Servicing

Gary Delgado learned last week from a note slipped under his door that the rent for his two-bedroom apartment at Manhattan’s Stuyvesant Town will jump by $920 to $4,220 a month in July.

Ellington Management Group is looking to get into the loan production business and towards that end it has hired former GMAC Mortgage executive Steven Abreu as head of mortgage originations.

Home Loan Servicing Solutions completed an acquisition from Ocwen Financial Corp. of rights to receive servicing fees and other advances on subprime and alt-A residential mortgage loans.

Lender Processing Services has had a turbulent couple of years since the beginning of the robo-signing scandal from 2010 to the present day that included lawsuits, a consent order and several settlements of charges. The robo-signing allegations involved an LPS unit that allegedly created bogus mortgage assignments so that foreclosures may be processed more quickly and efficiently.

New Residential Investment Corp. has invested $38 million to acquire certain cash-flow privileges from mortgage servicing rights recently acquired by Nationstar Mortgage.

Potential homebuyers are worried about the inventory shortage and rising prices in regards to current market conditions.

Under the settlement, Ally will pay $1.95 billion in cash to the ResCap bankruptcy estate, plus $150 million in insurance proceeds.

Pending home sales in California fell 3.7% on a month-to-month basis in April.

Despite the national negative equity rate falling through the first quarter of 2013, millions of homeowners with mortgages that are not underwater still lack enough equity even if they wanted to move.

Long-term mortgage rates rose further during the week ending May 23.