Servicing

When the Servicemembers Civil Relief Act was enacted into law in 2003, it was supposed to prevent military personnel from losing their homes while they were protecting our country. But years later there continues to be evidence companies need to better track their compliance with it.

Realtors today face many challenges when it comes to short sale transactions due to delayed timeframes, complicated approval processes, and constantly changing compliance regulations.

After reporting a profit of $2.6 million in the third quarter, Pacific Continental Corp. in Eugene, Ore., is projecting a loss in the fourth quarter as result of expected writedowns on certain real estate loans.

New York homeowners facing financial difficulties now have the opportunity to visit two Bank of America customer assistance centers that recently opened in Brooklyn and Long Island.

The real estate firm Lincoln Property Co. purchased an office and retail complex that was in receivership for $76 million.

The Federal Open Market Committee's statement from its last meeting of the year acknowledged some slight economic growth but generally kept current stimulus, including mortgage-related programs, on a steady path.

U.S. commercial real estate market fundamentals currently look as if they will continue to stabilize going forward but it will depend to some extent on property type, location and liquidity, according to Fitch's recent structured finance outlook conference call.

FHFA Inspector General Steve Linick said he has opened "numerous" criminal and civil investigations of lenders, servicers, individuals and other firms that have victimized Fannie Mae and Freddie Mac.

DebtX, Boston, has been hired to sell roughly $334 million of troubled acquisition, development and construction loans for a bankrupt real estate fund.

Prudential Mortgage Capital Co., Newark, N.J., has hired at least two multifamily loan officers for the Boston office it opened in October and plans to expand further throughout the nation, one senior executive of the company told National Mortgage News.