Servicing

Hudson City Bancorp Inc., Paramus, N.J., earned $84 million in the third quarter, in what its top executive called a “difficult environment facing portfolio lenders."

The bankruptcy of MF Global Holdings Ltd. and its ensuing suspension as a primary dealer shook the larger market Monday morning, putting downward pressure on rate-indicative bond yields.

Bank of America opened a customer assistance center last week in Warwick, R.I., to assist its struggling mortgage customers in this region.

A Realtor's attempt to defraud a Midwest Bank of $60,000 was thwarted with the assistance of a Web-based offer-processing service that eliminates the possibility of foreclosure fraud.

The mortgage insurance industry wrote $4.9 billion of new coverage in September, down $700 million from August, according to new figures compiled by the Mortgage Insurance Cos. of America. However, two private MIs—Republic Mortgage Insurance Co. and PMI Mortgage Insurance Co.—were ordered by their respective regulators to stop writing new business during August.

The committees that have been filtering transaction proposals for Fitch Ratings since the first quarter of 2009 began registering their first formal rejections of global commercial MBS securities proposals during the third quarter.

First Financial Holdings Inc. in Charleston, S.C., has proven its doubters wrong.

JPMorgan Chase late last week rebutted federal claims that it misled four now defunct corporate credit unions into buying $1.5 billion of risky MBS and pointed the finger - as NCUA's own internal reviews have - at the management of the failed corporates and at NCUA's own examiners.

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.