Servicing

Genworth Financial lost 20% of its market value Wednesday afternoon after it revealed accelerating losses at its Australian mortgage insurance affiliate and delayed a spin-off of that division until next year.

The Federal Housing Finance Agency wants Fannie Mae and Freddie Mac to be more responsive to troubled homeowners seeking a short sale solution or who receive a bid from an interested buyer.

The pace of bank failures will slow considerably this year as the industry continues to recover from the real estate bust, according to the acting head of the Federal Deposit Insurance Corp.

The U.S. economy is poised for moderate growth in 2012, but unlike prior recessions, the housing sector won't lead the recovery, according to Mark Fleming, chief economist for CoreLogic.

New government aid programs for troubled homeowners are forcing cost-cutting lenders, especially banks, into a tricky balancing act.

New mortgage applications rose almost 7% for the week ending April 7 thanks to falling interest rates, which spiked a surge in refinancings, including HARP activity.

As vacant properties rise across the country, code compliance is an ongoing challenge within the housing industry that servicers, property preservation companies and Realtors have to battle on a daily basis.

U.S. Bancorp saw its mortgage banking revenue more than double in the first quarter, originating roughly $19 billion of residential loans, according to figures released Tuesday.

For Residential Capital Corp. the shinola hit the fan on Tuesday. Early this morning ResCap filed a notice with the SEC saying it missed a scheduled payment on its debt Tuesday, laying the ground work for an eventual default - that is, if the payment is not made up within 30 days.

The residential mortgage division of Ally Financial Inc. missed a scheduled payment on its debt Tuesday, laying the ground work for an eventual default if the payment is not made up quickly.