Servicing

CitiMortgage is selling $158 million of nonperforming loans to a joint venture that will be required to give underwater borrowers an option to rent the property if they cannot qualify for a loan modification.

Bank of America, as part of a continuing effort to reduce its residential exposure, is offering roughly $7 billion of mortgage servicing rights through what’s being called a ‘Barbell’ auction.

The Consumer Financial Protection Bureau could release long awaited residential servicing rules Thursday, according to a memo being circulated by the Mortgage Bankers Association.

The Federal Housing Finance Agency on Wednesday slammed plans by some local governments to use eminent domain to refinance underwater mortgages.

Rebuilding Together has teamed up with Wells Fargo to create an REO home program that helps communities transform bank-owned properties into safe affordable homes.

Freddie's strong operational performance is sustainable, and it is a reminder that the government-sponsored enterprises could serve as a cash cow for private investors.

Two identifiers will determine whether the single-family rental market securitization product will be successful: the local employment base and desirability of the neighborhood.

Western markets are catching the turnaround fever, according to the second quarter ‘Top Turnaround Town’ report from Realtor.com.

Fannie reported comprehensive net income of $5.4 billion in the second quarter, a stunning 74% improvement from 1Q and will require no financial assistance from the U.S. Treasury Department.

PHH Corp., the parent company of the nation’s largest nonbank mortgage lender, lost $57 million in the second quarter and signaled its intention to reduce its presence in the correspondent lending channel where it ranks seventh nationwide.