Servicing

The oversupply of homes currently on the market will prevent sustained home price gains for an extended period of time, possibly for at least the next 18 months.

Pricing remains the biggest stumbling block in the sale of assets backed by commercial mortgage loans, according to panelists at SourceMedia’s Buying and Selling Distressed Mortgage Portfolios Conference in New York.

Because IT requires a truly specialization of skills and experience, lenders and servicers should partner with experienced vendors.

As investors look to capitalize on distressed mortgage portfolio opportunities, loan document questions and the role of MERS continue to arise.

The Federal Housing Finance Agency has ordered Fannie Mae and Freddie Mac not to pursue any deficiency judgments against members of the military if they are forced to short sale their home and if the mortgagor is required to move as part of their duty.

Mortgage cases are shifting to become more fact-intensive, rather than legal-intensive, meaning investors’ attorneys need witnesses to explain the circumstances in a case.

A 2006 commercial mortgage-backed security deal collateralized by two very different properties in Hawaii and New York, respectively, has ended up affected by stressors that have increased its Fitch loss expectations and caused the rating agency to downgrade one investment grade class.

Sales of single-family homes, condominiums and cooperatives fell to a 4.55 million seasonally adjusted annual rate in May from a 4.62 million rate in April.

Fannie Mae and Freddie Mac multifamily mortgage originations and mortgage debt outstanding will continue to show strong growth over the next 18 to 24 months.

To correspondent mortgage sellers and loan brokers, the ‘coincidental’ move by certain megabanks to only refinance FHA Streamlines that they are already servicing is a way to lock them out of the business.