Servicing

The average rate for a 30-year fixed rate mortgage during the week ending April 5 dropped to 3.98% from 3.99%, according to Freddie Mac's survey.

The National Fair Housing Alliance is putting the final touches to legal complaints against several undisclosed banks with very large foreclosure inventories on grounds of discrimination against communities of color and violation of the Fair Housing Act. The first complaint will be filed as early as next week.

Technology is an essential factor in the ongoing efforts to advance the efficiency and effectiveness of field service providers’ operations.

In the early days of the financial crisis investors were lining up for the mother of all loan auctions. It was thought to be the best buying opportunity for bad debt since the S&L crisis. And then a funny thing happened: banks and investment bankers decided not to dump their nonperforming loans, at least not in large numbers - or at fire - sale prices.

The Federal Housing Finance Agency's three-year effort to develop standardized loan data reporting requirements for newly originated Fannie Mae and Freddie Mac mortgages will finally go live this month.

Signaling their optimism about the state of the economy, many bankers are predicting that problem loans will moderate and consumer lending will perk up over the next six months, according to a new FICO survey released Tuesday.

Prices of homes sold by owner/occupants are rising for the first time in years and there has been modest price appreciation in January and February, according to a new CoreLogic report.

Since the housing crisis began in 2007, mortgage rates have currently dropped to all-time lows and home prices continue to bottom out in most markets. The big question still lingers on the mind of everyone in the industry: Are we on the road to a recovery or are there still gloomy days ahead?

A weak job market combined with growing demand for field services is forging innovative alliances that generate small business opportunities.

Morgan Stanley has agreed to pay civil money penalties and conduct a review of 60,300 foreclosures conducted by its former servicing subsidiary, Saxon Mortgage Services, as part of an enforcement action by the Federal Reserve Board.