Servicing

Whether users call it a one-stop shop, bounded services or component servicing, vendors are racing to leverage easy-to-use technology that can be constantly updated with new tools capable to help manage the mortgage servicing process and enhance the resale value of distressed properties.

The government's effort to streamline its refinancing program for mortgage borrowers who owe more than their homes are worth will amount to a wealth transfer from investors. But which investors? And how much of a transfer?

The Prestwick Mortgage Group is selling a $406 million package of GNMA mortgage servicing rights for an undisclosed mortgage banking firm.

Although the chances are slim, the conforming loan limit in a few high-cost housing markets could rise on January 1.

Data indicate the current volatility in commercial real estate prices and loan traffic in and out of delinquency will continue to keep billions in securitized CRE loans under the auspices of special servicers.

Foreclosure start rates on securitized, severely delinquent residential mortgage loans increased to over 10% a month and closer to historical averages, according to the latest RMBS Performance Metrics report from Fitch Ratings.

Lack of sufficient data to the context of the current mortgage market as well as the continuing lack of certainty when it comes to government oversight and involvement in housing finance are preventing it from moving forward, speakers at a recent SIFMA event said.

The Obama administration seized on a rare case of bipartisan consensus Thursday — the need for strong consumer protections for members of the military — to pressure Senate Republicans to confirm Richard Cordray as director of the Consumer Financial Protection Bureau.

A vacant, hurricane-damaged residential tower in New Orleans will be rehabilitated with proceeds from Wednesday's negotiated sale of $7.4 million of multifamily revenue bonds issued by Louisiana Housing Finance Agency.

Worried that the latest federal efforts to ease foreclosures will fall short, some bankers and community advocates want Washington to offer even more ways to keep borrowers in their homes.