Servicing

New requirements for third-party MERS audits are one of among the many inordinate compliance demands that could be easily overlooked, but they will soon no longer be something that can be ignored, according to executives at Quality Mortgage Services.

A hot legal issue known among insiders as the City of Chicago ordinance transfers the burden and costs of vacant property ownership from the mortgagee to the lender clashing with some county-level foreclosure process requirements.

When word leaks out that your company is for sale top producers – the smart ones at least – start weighing their options. Readers of this column and the National Mortgage News website have been kept abreast of all the LOs walking out the door at Bank of America.

Nevada's attorney General Catherine Cortez Masto this week filed civil fraud charges against Lender Processing Services and two subsidiaries alleging the company engaged in a widespread fraud of forging foreclosure documents.

Fannie Mae is giving the mortgage servicing industry's handling of troubled government-backed loans a makeover. But it would rather do so in private.

Friday morning, the yield on the benchmark 10-year Treasury fell to lows not seen in the last couple of months, a sign that mortgage rates will stay low.

O2 Funding, Foothill Ranch, Calif., late this week closed its East Coast mortgage production operation, electing to concentrate on West coast lending, according to industry officials familiar with the matter.

Fannie Mae's latest multifamily DUS REMIC priced under its guaranteed multifamily structures program included some exceptionally large orders - and high demand for a yearend auction.

Many organizations are feeling the impact of a stagnant housing market. Homeowners associations (HOAs) are no exception, but the pain they experience is also felt by mortgage servicers and investors.

The vacant property ordinance imposed by the City of Chicago demonstrates a lack of vision of the larger foreclosure crisis picture.Under the ordinance backed by Mayor Rahm Emanuel, mortgage holders are required to pay a $500.00 vacant property registration fee either 30 days after a property becomes vacant or 60 days after the loan goes into default, whichever is later.