Servicing

The average weekly rate for a 30-year fixed-rate mortgage in Freddie Mac’s primary market survey held steady at its record low of 3.78% during the week ending May 24.

The three outside investors in Republic Financial Indemnity Group are George Cochran, chairman, financial institutions group at Macquarie Capital Advisors; David Kimmel, managing partner of Summit Capital LLC; and James W. Schacht, president of the Schacht Group.

The Federal Reserve Board is using YouTube to try to reach more borrowers who may be eligible to have their foreclosure files reviewed as part of consent agreements with the 14 largest mortgage servicers.

Loan origination system vendor Mortgage Builder said it will acquire GCC Servicing Systems, the mortgage servicing technology vendor that it was spun off from in 1998.

With all the complexities involved in the management of distressed real estate assets, Wingspan Portfolio Advisors president Steven Horne said his company finds a literal overview of all of them is useful in drawing up strategies for handling the work.

Nearly two months into the spring homebuying season, there are signs throughout the country that the housing market is making positive strides toward a recovery.

Does anyone in government feel sorry enough for jumbo borrowers that they would design a HARP program to help these (presumably) high net worth individuals take advantage of a 3.5% fixed-rate mortgage?

Mortgage applications increased by almost 4% for the week ending May 18—thanks to surging refinancings—according to new figures compiled by the Mortgage Bankers Association.

Home prices hit bottom in the first quarter, but will remain flat for the rest of this year and into next, according to a new forecast from Bank of America/Merrill Lynch.

Iron Horse Auction Company is conducting an online auction through next weekend selling 100 bank-owned properties in North Carolina and Virginia to investors and prospective homebuyers.