Servicing

Redwood Trust is starting to feel like the Maytag repairman of the jumbo MBS market: it sits all alone with no company.

With record low mortgage rates, decreasing home prices and relatively mild weather throughout the country, many states are experiencing home sale increases this winter compared to previous years.

Just when Redwood Trust was starting to look a bit like the Maytag repairman of the jumbo MBS market, we began to hear reports this week that two top 10 ranked banks are working on jumbo deals - for later in the year.

Republic Mortgage Insurance Co. has been placed under supervision by the North Carolina Department of Insurance, its parent company Old Republic International Corp. announced.

State attorneys general will meet Monday to discuss a potential settlement with bank servicers over the robo-signing scandal, according to a spokesman for Iowa AG Tom Miller.

Roughly $30 billion of Freddie Mac servicing rights that once belonged to the now defunct Taylor, Bean & Whitaker Mortgage Corp. could hit the market next month, according to officials close to the auction.

Sales of existing single-family homes rose in December for the third straight month and Realtors are hoping it could be the start of a long-awaited recovery in the housing market.

Let's cut to the chase. With all the shouting, flailing and verbosity on the subject of the REO problem, does anyone offer a practical, workable solution?

Survival of the fittest will continue to be the theme in 2012. And the annual MBA National Mortgage Servicing Conference is the precursor of events to come, says Derrick Logan, senior VP in the strategic alliance group for REO Allegiance, Bayonne, N.J. "It sets the tone for the whole year."

Former U.S. President Bill Clinton outlined his plan to help troubled mortgage borrowers before a standing-room-only crowd packed into an auditorium the size of a football field at the Jacob K. Javits Convention Center during the National Retail Federation's Annual Convention & Expo this week.