Servicing

While Fitch believes that housing trends may see some stabilization, further weakening could result in a reversal in mortgage reserve releases or provisioning.

Programs help qualified homeowners prevent foreclosure because of unemployment, underemployment, catastrophic medical costs, divorce and other life-changing events.

With servicing multiples as low as they’ve been over the last 18 months, the head of Edison, N.J.-based Real Estate Mortgage Network Inc. has decided to take advantage of the situation, growing its portfolio by starting a correspondent lending division. The new unit will operate out of its new Irvine, Calif. wholesale fulfillment center.

Merscorp Holdings will provide the state of Delaware’s Department of Justice Consumer Protection Unit a semi-annual report detailing results of its internal audits.

A recent Fannie Mae multifamily DUS REMIC that had two additional types of tranches not normally included in past deals brought in a slightly higher percentage of new investors than usual.

Impac Mortgage is entering the reverse mortgage lending business on a retail basis in the Southwest with plans to expand it later on.

Higher repurchase demands trimmed Wells Fargo’s take from its mortgage banking unit in the second quarter, but net profit gains from residential lending and loan sales rose a stunning 200% from the same period a year ago.

JPM’s improved performance is tied to an increase in origination volumes and a decline in nonaccrual loans. In particular, the bank stressed that its retail/consumer mortgage volume hit a new record: $26.1 billion.

A federal judge sentenced Scott Eric Perry to 18 months in prison on false statement charges related to an almost $750,000 mortgage fraud scheme in the Birmingham area.

According to CoreLogic’s Negative Equity Report, nearly 17 million borrowers who were underwater by the end of the first quarter had loan-to-value ratios of 80% to 125%, which purely from an LTV perspective makes them eligible for the original Home Affordable Refinance Program.