Servicing

Insurance companies have become more sophisticated in the face of the housing crisis, hiring teams specifically to investigate and adjust hazard claims filed by the mortgage servicers. This has resulted in an increase in hazard denials.

The mortgage banking division of PNC Financial Services lost $61 million in the fourth quarter due to what the bank called “foreclosure-related expenses primarily as a result of ongoing governmental matters.”

Remember the first time you were introduced to the concept that the law, as discussed theoretically in law school, was not necessarily the law as it played out in reality? Please allow me to provide yet another example of what happens when the cost/benefit analysis of defending what is obvious under the law weighs heavily in favor of tossing hundreds of years of property law out the window.

New York attorney general Eric Schneiderman's office will fund $1 million in foreclosure prevention services to assist state homeowners who are struggling through the foreclosure crisis.

Due to the increasing complexities surrounding the foreclosure process, Nationwide REO Brokers has expanded its services by offering third-party foreclosure review and certification for lenders and servicers.

Asset Revitalization Solutions, an Austin, Texas-based company that specializes in distressed asset investments and management, acquired $10 million in distressed loans in Florida.

The latest Freddie Mac economic forecast predicts the housing recovery will be delayed as long as there remains a large gap between buyer and seller sentiment.

Home prices fell 3.5% in the past year and mortgage rates are at record lows. One would think that borrowers would be flocking to their nearest real estate agent to buy the next home they can find. However, homebuyers are not coming out of the woodwork - yet.

The nation's attorneys general, the Department of Justice, and HUD are “very close” to finalizing a legal settlement to settle 'robosigning' allegations levied against the nation's dozen or so top ranked servicers, HUD secretary Shaun Donovan said Wednesday morning.

Traditionally field economists would focus on economics and finance leaving political economy to academics. The crisis is changing that demanding more politically sensitive outlooks that capture the complexity of major socio-economic events of today.