Servicing

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Bank of America said it will offer a small number of customers facing foreclosure the option to remain in their homes and rent the property instead.

The Consumer Financial Protection Bureau late this week unveiled an interactive database with answers to consumers' frequently asked questions about financial products.

With profit margins on HARP 2.0 refinancings sky high, Wells Fargo & Co., is putting caps on the loan-to-value ratio it will accept from third-party lenders, National Mortgage News has learned.

Stonegate Mortgage, a fast-growing nonbank lender based in Indianapolis, has received a $25 million investment form private equity fund, Long Ridge Equity Partners, and plans to use the money to grow both its servicing portfolio and third-party lending channels.

In my opinion there is a significant disconnect in the jumbo mortgage between the primary market and the secondary market. What is fascinating is very little discussion or attention is being focused on this issue, at least from the perspective of what consumers want.

Home prices fell 3.2% during the second-half of last year, but as spring approaches values are bottoming out, according to a new report from Bank of America/Merrill Lynch Global Research.

Executives at Reverse Mortgage Solutions, Spring, Texas, said the company is planning to move into the forward mortgage business. Currently, besides reverse mortgage lending and servicing, it is active in special servicing, default claims administration, real estate owned asset management and REO leasing.

Old Republic International Corp., Chicago, is planning to merge its private mortgage insurance business with another unit that is also in run-off, the consumer credit indemnity division and split them off from the parent company. The combination will operate under the name Republic Financial Indemnity Group Inc.

The average weekly rate for a 30-year fixed rate mortgage in Freddie Mac's survey rose above 4% for the first time since October of last year.