Servicing

The owners and operators of mortgage businesses that I talk to often feel they are at the mercy of outside factors when it comes to generating new business, which is completely understandable given what the housing bubble did to the mortgage industry. However, when it comes to generating new leads and producing revenue, this really isn't the case.

If your Loss Mitigation and REO Departments interact with listing agents in the traditional fashion, then you are enabling fraud.

The Prestwick Mortgage Group is offering $128 million of Freddie Mac servicing rights and hopes to complete the auction by the end of next week.

As mortgage rates continue to be at all-time lows, the present day is a better time than ever before for a prospective homebuyer to purchase any type of property.

The foreclosure crisis is loosening the traditionally strong tie homeowners have with their homes. New findings from FICO's latest quarterly survey of bank risk professionals indicate one way the slow recovery will affect distressed homeowners in 2012 is increased propensity for "strategic default."

The Consumer Financial Protection Bureau's latest mortgage servicing proposals have the residential lending industry seeing dollar signs -- and not the good kind.

With over a million borrowers delinquent on their mortgages and nearly two million properties in the foreclosure pre-sale inventory, analysts, Realtors and servicers can only speculate about when the housing industry will take positive steps towards a recovery.

Resource Real Estate Opportunity REIT has purchased a distressed multifamily REO property in Houston that was experiencing operational and capital deficiencies for $11.4 million.

Alloya Corporate Federal Credit Union of Warrenville, Ill., the survivor of what was once Members United Corporate FCU, said it has signed a letter of intent to combine with Central Corporate Credit Union of Michigan, creating the nation's largest corporate with almost $5 billion in assets.

The Consumer Financial Protection Bureau detailed a slew of new mortgage servicing rules last week that it plans to propose this summer, including a call for expanded disclosures for payments and fees and new policies in how banks must handle customer accounts.