Servicing

The Home Affordable Modification Program has long since left the spotlight. But data shows that after initially dragging their feet, the largest mortgage servicers have modified nearly 70% of loans to eligible borrowers largely because they are receiving major incentives from the government.

CertusBank has agreed to buy Myers Park Mortgage, a private mortgage company in Charlotte, N.C.

The nation’s largest residential servicers—which just so happen to be megabanks—are marking down their MSRs to near fire sale prices.

We’ve been hearing whispers about a Fannie Mae nonperforming loan auction for several months now. We understand the GSE has been actively telling people it could happen by yearend or early 2013.

In Origination News’ discussion with the officers of the Florida Association of Mortgage Professionals at its annual convention in Tampa, national housing correspondent Lew Sichelman asked how the changes to federal law have impacted the state’s education requirements and how conditions are in the various markets that make up this very diverse state.

Lender Processing Services has reached a settlement with the Missouri attorney general, dismissing criminal charges that were pending against its now-defunct subsidiary DocX.

United Guaranty Corp. earned $43 million in the second quarter, compared to a profit of $12 million in the same period a year ago as its risk-based pricing strategy bolstered its bottom line.

Freddie Mac has named Charlotte Catalfo, a 28-year veteran of Principal Residential Mortgage, as interim senior vice president in charge of operations for its single-family program.

President Obama disagrees with the Federal Housing Finance Agency's refusal to allow principal reductions on mortgages but can do little to stop it.

Intense competition with bigger banks over commercial and industrial loans has some community bankers reconsidering how much they want to engage in a price war for such loans.