Servicing

A new report indicates unexpected changes in geographic patterns that helped cause nearly $20 billion in flood and hurricane losses to homeowners and lenders in 2011 call for a re-evaluation of existing emergency plans and insurance options.

PennyMac Mortgage Investment Trust, through an affiliate, has increased an existing repurchase agreement with Credit Suisse First Boston Mortgage Capital.

The independent consultants hired by bank servicers to review and assess the claims of millions of borrowers who may have been harmed in the foreclosure process will not be able to contact these borrowers directly or even talk with housing counselors, according to testimony at a Senate Banking subcommittee on Tuesday.

Wednesday morning we were greeted with the news that an affiliate of Newcastle Investment Corp. – a publicly traded REIT – has agreed to pay almost $44 million to Nationstar Mortgage in exchange for receiving 65% of the interest payments on a $9.9 billion pool of MSRs.

An affiliate of Newcastle Investment Corp. – a publicly traded REIT – has agreed to pay $43.7 million to Nationstar Mortgage in exchange for receiving 65% of the interest payments on a $9.9 billion pool of MSRs.

Application volume increased by 4.1% on a seasonally adjusted basis for the week ended Dec. 9, as rates fell to their lowest levels this year, according to the Mortgage Bankers Association.

Lawmakers raised sharp questions Tuesday about the ties between the 14 largest mortgage servicers and the purportedly independent consultants that were hired to review their practices, putting a top bank regulatory official on the defensive.

Some mortgage industry members are applauding Congressional efforts to raise the guarantee fees that Fannie Mae and Freddie Mac charge lenders, saying the increases could help bring private investors back into the mortgage market.

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.