Servicing

Rent increases reported across the country and outlooks predicting the same for the near future also indicate the window of opportunity in rental-housing investments is about to open up in some local markets and may start to close soon in others.

Despite a $25 billion national mortgage servicing settlement being filed that provides assistance for homeowners to compensate for faulty foreclosure practices that occurred following the housing market crash, scammers were still prepared to capitalize on the vulnerability of desperate homeowners.

Fannie Mae this week reported "significant improvements" in the performance of several of its largest seller/servicers, even though only half received satisfactory reviews.

As cities and towns across the country struggle to pay bills and prevent troubled properties from giving rise to blighted neighborhoods, they're turning by the hundreds to a new tactic.

Farmer Mac earned $13.3 million for the fourth quarter and $13.8 million for the full year 2011, as the company saw increased net interest income and it was able to release funds from its allowances for loan losses.

It's known as the 'Oops' loan market - where Fannie Mae/Freddie Mac lenders get jammed on a buyback request not because the loan is delinquent, but because one of the GSEs finds an underwriting flaw and demands a repurchase or damages. The seller/servicer then takes that loan and resells it to another buyer.

The $25 billion national mortgage settlement essentially allows the five largest servicers to police themselves - which has made many consumer advocates surprisingly happy.

With the overseers of Fannie Mae and Freddie Mac digging in their heels against the use of principal write-downs for troubled homeowners, Senate Democrats pressed their case for a course change on Thursday.

Auctioneer Steve Rawlings said this property would be a “lovely” family home or an “excellent” investment opportunity. Rawlings said the home is going to be sold for at least $50,000.

The loan portfolio is secured by 11 properties based in Manhattan and 14 located in Brooklyn. It is comprised of 245 residential units and 12 commercial spaces.