Servicing

Amid lingering questions about the fate of a broad mortgage servicing settlement, many see the creation of a joint task force to probe mortgage abuses as hope that those negotiating the settlement can work out their differences.

RiskFinder Distress enables users to track and analyze key distress events throughout the life cycle of a loan. This computer product provides investors and lenders the information needed to evaluate risk, determine the impact of distress sales on loss severity estimates, drive loss mitigation strategies and identify markets that are starting to recover.

Kinecta Federal Credit Union, Manhattan Beach, Calif., posted a $30.6 million loss for 2011, citing problems with its mortgage business.

PHH Corp., which saw its CEO depart a few weeks ago, late Thursday named Charles Pizzi, the former chairman of the Federal Reserve Bank of Philadelphia, to its board.

A new national refinancing program unveiled by President Obama earlier in the week will rely on the Federal Housing Administration to refinance private and GSE mortgages, according to a report from Federal Financial Analytics in Washington.

Trapped between conflicting requirements that indicate collapse and abolition prospects, the debate over the future status of Fannie Mae and Freddie Mac is emerging as one of the year’s biggest concerns for insiders and academics.

Old Republic International Corp.'s mortgage guaranty business lost $163 million for the fourth quarter and $678 million for the year, 48% worse and 160% worse than the same periods one year ago, as claims costs intensified throughout the year.

JPMorgan Chase CEO Jamie Dimon said President Obama's decision to expand investigations into home lending and sales of MBS could stop settlement talks with the states over foreclosure practices.

Despite lingering challenges real estate agents and lenders currently face when selling foreclosed and bank owned properties, these homes continue to make up a high percentage of all sales nationwide through the third quarter of 2011 even though it's lower than the previous quarter.

Vacant property registration ordinances were created to help protect vacant and abandoned homes from neglect and prevent them from becoming nuisances. Local municipalities use them to collect current and accurate contact information about the lien holder of record, allowing officials to issue prompt notification when a code violation occurs.