Servicing

Nearly three years after returning to banking and mortgages, Jay Sidhu is preparing to take his latest venture to the next level.

House Republicans are wading back into the debate over whether to allow principal reductions on Fannie Mae and Freddie Mac mortgages.

Freddie Mac began purchasing HARP 2.0 loans in January and by the end of the first quarter had acquired $5 billion of these refis, according to the company’s first-quarter securities filing.

Housing and Urban Development Secretary Shaun Donovan will testify before Congress next Tuesday regarding efforts to allow more Americans to refinance their mortgages.

The government controlled Freddie Mac posted net 'comprehensive' income of $1.789 billion in the first quarter — but then had to turn around a pay the U.S. Treasury $1.8 billion in dividends, resulting in a small true loss for the quarter.

From time to time I hear appraisers talk about the fact that they feel undervalued, and that the business they’re in is becoming increasingly difficult. Some feel it’s a downright hostile environment for appraisers today.

There was a lot of shock, sadness, and yes, grief here at SourceMedia at the recent passing of Neil Morse. We knew Neil as a gifted mortgage writer, an indefatigable road warrior, a thoroughly professional public relations executive, and finally as a colleague for his work with our conference group. He died way too soon (he was 62). But he had an impressive life.

The Federal Housing Finance Agency revealed that it gave Fannie Mae the green light to conduct a pilot program with Wells Fargo in March 2010 to test principal reduction modifications.

Genworth Financial Inc. reported first-quarter net income of $47 million, compared to a profit of $59 million one year prior.

Fifth Third Mortgage Co. is not placing any LTV limits on refinancings of its existing mortgage customers under the HARP 2.0 program.