Servicing

Clear Capital said the majority of the top 50 metropolitan markets made positive strides in June as only seven cities saw prices fall on a quarterly basis.

The mortgage settlement between U.S. state attorneys general and the five largest servicers, in clarifying foreclosure standards for the industry, may be contributing to higher foreclosure initiation rates.

The Consumer Financial Protection Bureau has released its Loan Estimate form, which will eventually replace the good faith-estimate disclosure that borrowers receive three days after applying for a mortgage.

Radian is benefiting from the changing competitive environment in private mortgage insurance as two of its competitors went into run-off in the third quarter last year.

Freddie Mac expects to price this week its ninth so-called K multifamily securities offering for the year.

In judicial states, 6.5% of all mortgage loans are in some stage of foreclosure, compared to only 2.5% in states that don’t use the courts to conduct a foreclosure.

Investment banks’ researchers generally indicated that agency mortgage-backed securities prepayments overall increased modestly in the latest month.

If the courts uphold the use of eminent domain in taking mortgages, it would open the door for the cities to purchase the loans at fair value.

Mortgage rates spiked briefly as the first quarter came to a close, raising the prospect that a rebound in refinancings originating in the fourth quarter would peter out.

Enhancements to the Home Affordable Refinancing Program rolled out in February and March allowed almost 500,000 GSE borrowers to refinance their high LTV loans.