Servicing

In the past two years, 270 church properties were sold after a loan default, 90% of them by banks.

On July 25, U.S. District Judge Paul G. Rosenblatt sentenced Clint Bryson Rogers of Scottsdale to five years in federal prison for his role in a mortgage fraud conspiracy. Rogers pleaded guilty on Jan. 18 to conspiracy to commit the crimes of false loan application, wire fraud and money laundering.

Lenders that shift to a retained servicing model must make significant modifications to their technology and processes.

Field service provider Safeguard Properties increased its business responsibilities today by acquiring the rights to preserve and inspect Bank of America’s defaulted and REO properties.

PennyMac Mortgage Investment Trust, which started out in life solely as a nonperforming loan investor, is now cleaning up as a correspondent buyer of newly originated loans.

The Federal Housing Finance Agency’s decision to reject adoption of a principal reduction program had very little impact on the pricing of $53 billion of MBS backed by Home Affordable Refinance Program loans.

MGIC Investment Corp. lost $274 million in the second quarter, almost double the amount of red ink it suffered in the same period a year ago.

If you’re a flaming liberal in Congress you view the Ed DeMarco-principal-reduction controversy as follows: Fire that Republican now!

Over the past year Ocwen has agreed to purchase large MSR portfolios from JPMorgan Chase, Litton Loan Servicing and Saxon Mortgage.

A decision by the Georgia Court of Appeals has added new language to a notice of foreclosure requirement case that, according to some analysts, could invalidate thousands of Georgia foreclosures.