Servicing

Even though foreclosures and distressed properties will remain a significant part of the home sales market in Florida next year, plus the macro economic headwinds, economists cited by the state's Realtors said the market is in "a mini-recovery."

Servicers refinanced more than 85,000 high LTV loans under the Home Affordable Refinancing Program in the third quarter, up nearly 11% from the prior period, according to new figures compiled by the Federal Housing Finance Agency.

Application volume increased by 12.8% on a seasonally adjusted basis for the week ended Dec. 2, as rates fell to their lowest levels in two months.

The Attorneys General of California and Nevada are combining their investigative forces to combat misconduct and fraud within the mortgage industry against state homeowners.

Remember when "investor" was a four-letter word? Not anymore. Now, investors are all but saving the housing market.

A key federal regulator is signaling that banking agencies are not close to formulating final regulations that address risk retention on mortgage securitizations.

Home prices fell 1.3% in October after a 1.1% decline in September, according to new figures release by CoreLogic.

Touting the success of the Treasury Department's New Issue Bond Purchase Program, a group of local housing finance agencies is urging the Obama administration to modify and extend the program, this time allowing the Treasury to exchange mortgage-backed securities it holds in its portfolio for MBS that wrap NIBP bonds.

Fannie Mae's PR department might contend that the GSE isn't in the business of servicing loans, but everyone in the mortgage business knows that such a statement is, shall we say, a misnomer. The government-controlled secondary market giant—as a technical matter—owns the servicing rights to every loan it guarantees, but it's the GSE seller/servicer that owns the “contract” to process those loans.

The Federal Housing Finance Agency this week hired Manoj K. Singh as principal examiner for risk, in charge of Fannie Mae and Freddie Mac.