Servicing

Five industry trade groups have sent a new letter to Federal Housing Finance Agency director Edward DeMarco, telling him – more or less – that they believe the 'fee for service' concept would be a disaster for both the industry and consumers.

Consumers soon will be paying more for government-backed mortgages now that the House and Senate have reached a deal to extend a payroll tax break for two months.

In a roundtable discussion, Lew Sichelman, senior housing correspondent for National Mortgage News, asks members of the National Association of Mortgage Brokers' executive board what they are dealing with on the legislative front.

Freddie Mac said Thursday that the average weekly rate for a 30-year mortgage has inched down to another record low.

Republic First Bancorp, Philadelphia, this week announced that it had sold $59 million of mostly problem real estate loans to a single investor, a move that goes a long way towards cleaning up its balance sheet.

MortgageKeeper, the anonymous referral service that helps lenders and counseling agencies connect struggling home owners with qualified sources of assistance, is ending the year with a bang.

The Comptroller of the Currency reported an acceleration in foreclosure actions during the third quarter as servicers lifted voluntary moratoriums implemented in late 2010 as the robosigning scandal escalated.

Democratic Rep. Brad Miller and Republican Rep. Walter Jones are sending a message to federal officials who will need to sign off on any settlement agreement reached between state attorneys general and mortgage servicers: do not release the servicers from any violations of a federal law that protects members of the military.

The U.S. Government Services Administration entered into a contract with eMASON that will allow federal agencies to purchase the mortgage technology vendor’s software at negotiated prices.

As home values continue to remain at low levels throughout the country, rental prices are soaring in contrast during these difficult times in the housing industry.