Servicing

For a year now the government owned Ally Financial has kept mum on the idea of throwing ResCap into bankruptcy protection but the self imposed gag order came off late Friday night, squirreled away in the folds of a new 148-page SEC filing.

FAS Vendor University is a six-month program that features Internet-based courses and hands-on learning activities to guide vendors in performing pre-foreclosure, REO and renovation field services to the mortgage servicing industry.

Field service companies have put more emphasis on pre-sale mitigation, auditing the work they complete, and concentrating on other ways to protect the value of REO properties in pre-sale in the future.

It's no secret that there are signs of life in the 'flow' servicing market, but will these green shoots of a revival turn brown?

On the heaviest night of bank closures this year, regulators across four states on Friday shuttered a total of five institutions, bringing the year's failure total to 22 and costing the Federal Deposit Insurance Corp. more than $270 million.

Flagstar Bank ended the first quarter with $2.15 billion of warehouse lending commitments on its books, a healthy 31% increase from the year ago period.

By now, thousands of readers have viewed our coverage (both in print and online) of eWarehouseOne, the mysterious warehouse lender that appears to have collected at least $250,000 in application and good faith checks, and doesn’t have a whole lot of lines of credit to show for it. After two months of investigating the company and talking to roughly 20 sources, we’ve come to the conclusion that the man running the show is Tom Reynolds, once listed as EVP in charge of warehouse lending. The problem is this: none of the account executives hired by the company (some of whom have left) have ever met Reynolds, though they’ve spoken to him on the phone.

The Federal Housing Finance Agency has indefinitely delayed its timeline for a highly anticipated decision on whether to allow principal reductions on loans owned by Fannie Mae and Freddie Mac.

Multifamily prices are getting closer to their pre-recession peak, but limited supply and favorable demographics could mean they keep climbing for some time.

HARP 2.0 refinancings are red hot in both Florida and Nevada, according to testimony by HUD secretary Shaun Donovan.