Servicing

Wingspan Portfolio Advisors, a once-fast-growing specialty servicer that does business with the GSEs and other clients, is laying off almost 460 workers, according to a notice it filed with the Texas Workforce Commission.

Just when housing begins to show true signs of a recovery, the fiscal cliff strikes.

RES.NET has added a new feature to its buyer portal application, allowing prospective homeowners the opportunity to search for properties that have not been advertised on the multiple listing service.

Within the next few days a crucial audit will be released on the FHA’s mutual mortgage insurance fund, but recent figures released by the agency indicate that late payments are headed in the wrong direction.

Loan modifications continue to be a smart move politically and from a risk management perspective, and new technology is aimed at streamlining the way qualifying documents are moved between borrowers and loan servicers.

The exodus from the financial services panel is bipartisan, with five Democrats leaving the 61-member committee while seven Republicans follow suit.

Joseph A. Smith is encouraging service members and their advocates to report mortgage-servicing complaints by using two online forms provided on the settlement monitor’s website.

The Treasury Department reported that servicers completed 47,100 Home Affordable Modification Program restructurings in the third quarter, down slightly from 49,950 in 2Q.

Walter Morales and his firm Commonwealth Advisors Inc., based in Baton Rouge, La., sold mortgage-backed securities to hedge funds they managed at the lowest and riskiest prices, the SEC alleges.

Allonhill laid off roughly 10 full-time appraisers because of a cutback by one of its mortgage clients.