Servicing

The discussion in a number of panel sessions at the Mortgage Bankers Association National Secondary Market Conference in New York on May 6 through 9, was if, let alone when, private capital would return to the industry. In the exhibit hall, much of the vendor focus was on technology and compliance which would ease that transition. Nary a wholesaler or correspondent aggregator was exhibiting.

The National Mortgage Settlement between state attorneys general and the federal government on one side and major mortgage servicers on the other is likely to affect the way small servicers and subservicers do business.

Fannie Mae and Bank of America are involved in a major dispute over $7 billion of outstanding buyback requests with the GSE cutting back on the loans it purchases from the giant bank.

Hilltop Holdings of Dallas, a property and casualty insurer, has agreed to buy fast-growing mortgage lender PlainsCapital in a cash-and-stock deal valued at $537 million.

Over the past dozen years, one of the best things I’ve done on the road is to gather top industry officials around me and have a freeform, on-the-record roundtable of industry issues.

Donna DeMaio, most recently the president and chief executive of MetLife Bank, has joined United Guaranty Corp. as its chief operating officer.

Residential home values experienced a meager 0.2% increase in February with the average sales price coming in at $195,000, according to new figures compiled by Lender Processing Services.

A major shake up in the senior ranks at Arch Bay Capital has taken place with several departures from the company, according to three nonperforming loan investors that have conducted business with the firm.

Two bank-owned apartment complex assets have been sold in separate transactions by an investment sales team at Newmark Grubb Knight Frank on behalf of a purchaser and a receiver.

If the amendment were to become law, it would impact the posture of the Justice Department in any future negotiations with smaller mortgage servicers that did not participate in the recent settlement with the five largest servicers.