Servicing

The House passed a bill that requires the Federal Housing Administration to submit a plan to Congress on how it intends to avoid a government bailout of its financially strapped mortgage insurance fund.

Distressed asset liquidation timelines will continue to coerce the decision making process for both lender-servicers and homeowners.

Demand for foreclosed properties is heating up in certain markets where the supply is shrinking at increased speed.

Government entities, investors and lenders are embracing efforts to minimize foreclosure related losses by keeping properties occupied.

The Revitalizing Auto Communities Environmental Response Trust recently reached an agreement to sell the former General Motors Mansfield-Ontario Stamping Plant to the Brownfield Communities Development Company.

Bankers are mounting their support for national efforts to build up a much-needed financial literacy foundation.

A trio of vendors that play in the nonperforming loan space have formed a cooperative to unload NPLs to Realtors seven days before they are offered to the public.

Fannie Mae’s first multifamily delegated underwriting and servicing real estate mortgage investment conduit deal backed by floating rate collateral attracted banks as well as other buyers.

NewDay USA, a nationwide reverse mortgage lender, has named former Government National Mortgage Association president Joseph Murin as its new president and chairman.

Some mortgage bankers that have perfected HARP refinancings are starting to hunt for servicing portfolios that are rich with program eligible loans.