Servicing

Servicers have restructured nearly half of all second mortgages sitting in their portfolios that are eligible for a HAMP second lien modification program known as 'MP2.'

PHH Corp., Mt. Laurel, N.J., is now looking to sell $150 million in debt to help pay off $250 million of debt that matures in April. Originally the company was looking to sell $250 million in debt back in December, but cancelled that offering.

Despite projections that national home prices will increase slightly in 2012, Clear Capital said figures are still going to be near levels not seen in over a decade.

Bank of America's share price climbed to just over $6.50 Tuesday, a sign that investors somewhere are bottom feeding on this once proud banking franchise, one that shot itself in the foot (or is it head?) when it bought Countrywide Financial Corp. in 2008.

Many mortgage industry observers believe the HARP 2.0 program will contribute greatly to loan origination volumes in 2012. The question for many originators is where do we find consumers who are eligible for the program under the expanded criteria?

Bank of America is gearing up to sell large chunks of its residential servicing portfolio on a regular basis as it continues to whittle down its presence in the mortgage market, according to servicing advisors and investors who have been briefed on the bank's plans.

At the beginning of this new year, President Obama, much to the chagrin of many Republicans in Congress and constituents in the mortgage banking community, appointed Richard Cordray as Director of the Consumer Financial Protection Bureau. Does Cordray's appointment to the CFPB mean: For every problem there is an opportunity?

A real estate company that bought and sold 300 foreclosed single-family properties last year does not feel threatened by the expected launch of a federal bulk investor program for converting REO units into rentals.

Federal regulators must levy fines against residential servicers under their purview to show there are real consequences for their "severe misconduct," according to Federal Reserve governor Sarah Bloom Raskin.

Freddie Mac is providing up to one year of forbearance for unemployed borrowers to pay their mortgage.