Servicing

Realtors are fervent believers in free markets, and acknowledge the need for private capital to reduce the federal government's role in this sector. However, our members are practical and understand that in extreme economic conditions private capital will retreat from the market, requiring the participation of an entity that will remain active in the marketplace regardless of economic conditions.

Bank of America, which has vowed to reduce its overall risk in mortgages, is close to completing the sale of a $50 billion package of Freddie Mac mortgage servicing rights, according to advisors close to the deal.

A survey conducted by Zillow reveals that most homebuyers know how to purchase a house -- but their expectations for homeownership are out of line with reality.

Investor demand for commercial real estate loan portfolios in boththe U.S. and Europe appear to be rising, but these are “two different markets right now,” according to one expert.

The Georgia Department of Banking and Finance this week issued a cease and desist order against two mortgage companies for allegedly conducting business in the state without a license.

The moribund mortgage insurance business of Old Republic International Corp., Chicago, lost $238 million on a pretax basis in the third quarter, driving the parent company to a $117 million net loss for the period.

Viewpoint Bank, Plano, Texas, ended the third quarter with $910 million of warehouse lending commitments on its books, a handsome 26% gain compared to the same period a year ago.

Rep. Scott Garrett unveiled a reform plan on Thursday designed to draw the private sector back to the secondary-mortgage market after troubled Fannie Mae and Freddie Mac are eventually terminated.

Bank of America is working "very hard" on a short sale-to-lease program for distressed borrowers who don't qualify for government-backed refinance programs.

The nation's second largest title insurer, First American Financial Corp., earned $21 million in the third quarter, a 36% decline compared to the same period a year ago as revenues fell 3% due to a decline in title premiums.