Servicing

n this season of high political drama it is not really surprising that potential candidates, as well as a myriad of federal agencies, are all jockeying for the most complimentary spot in the limelight. The National Fair Housing Alliance is no exception.

The real estate owned-to-rental niche currently may be "the world's biggest $0 billion industry," as Rick Sharga of Carrington Mortgage Services said at the recent SourceMedia Mortgage Servicing Conference in Dallas, but it should start to grow.

Industry veteran Tony Renzi, who joined Freddie Mac last spring as part of a major organization at the GSE, has resigned from the company effective May 11, according to a new SEC filing.

Nearly 50% of banks are not participating in the HARP 2.0 program and only 30% are actively soliciting applications, according to a Federal Reserve Board survey.

Compliance within the financial services industry impacts the entire organization and is key to the bottom line for firms currently operating in the mortgage space. Comprehensive compliance risk management strategies are required to meet compliance obligations and also protect customers, employees and shareholders.

The multifamily sector is getting closer to the peak last seen before the beginning of the recession, according to Fitch Ratings, but “the market will not overheat.”

The inventory of vacant homes for sale fell in the first quarter to the lowest level in six years, according to a new government report which helps explain why real estate agents are complaining about the tight supply of REO properties.

There was $6.7 billion of new insurance written by members of the Mortgage Insurance Cos. of America in March, up from $5.4 billion in February and $4.4 billion in March 2011.

A surge in mortgage lending drove strong profits for banks of all sizes in the first quarter, with some banks attributing the improvement to new regulations.

HomeStreet Inc., Seattle, earned $19 million in the first quarter, because of the strong performance of its growing mortgage banking unit.