Servicing

SpringLeaf Finance Corp., which is partly controlled by the U.S. government, has entered into another round of layoffs, and may have to file for bankruptcy protection.

The tool provides investors with property-level information to make business decisions regarding which properties to possibly buy and convert into rental units.

Competition is heating up among banks in the government's revised Home Affordable Refinance Program, which has helped spark a refi boom and contributed to strong mortgage profits at most banks.

Freddie Mac has picked a former chief executive of an online securities brokerage firm to be its new CEO, according to published reports.

The Modification Team LLC, a Lawrenceville, Ga.-based mortgage business that offers services related to property sales, modifications and notaries, was issued a cease-and-desist order from the state’s Department of Banking and Finance.

The Federal Housing Administration’s single-family program is facing headwinds as the HUD secretary tries to keep the insurance fund above water and appease critics who want to reign in government programs.

Senate Democrats may try to fast-track a bill to open up the HARP 2.0 program so more lenders can refinance high LTV Fannie Mae and Freddie Mac loans held by large servicers.

Investors will spend what they have to in order to keep REO in marketable condition, but they often work very hard to find asset managers who can sell the property in as close to the condition they find it in as they can. That’s just good business.

Fannie Mae posted $3 billion in total “comprehensive” income in the first quarter, and then turned around and paid the U.S. Treasury $2.8 billion in dividends.

One of the architects of the $26 billion settlement with five major servicers expects some borrowers will see the principal balance of their mortgages reduced by over $100,000.