Servicing

The cost of homeowners insurance in California has risen nearly 7% from a year ago, according to an online insurance marketplace.

As policymakers inch slowly toward reforming the housing finance system, the Federal Home Loan Banks and their allies have a simple message to Congress: leave the system alone.

Three years after making a big splash in mortgages and then growing its business to become the 12th largest in the U.S., insurance conglomerate MetLife is now throwing in the towel on residential finance.

Congress should require the Federal Home Loan Banks to pay for an explicit government guarantee on their debt, according to a former GSE regulator and congressman.

Sabal Financial Group L.P. of Newport Beach, Calif., this week acquired a $153 million portfolio of loans located in some of the hardest hit regions of the U.S.

Since mid-spring, national quarter-over-quarter home prices gains have continued to soften as values are up 3.5% through September, compared to a 4% change reported through August, according to the latest Clear Capital Home Data Index Market Report.

Quandis has developed a new Web-based application that automates short sell workflows and streamlines communication between servicers, lenders, borrowers and real estate agents.

Proprietary loan modifications for August remained at a relatively flat pace from July with about 56,000, according to data from the Hope Now alliance.

The online real estate auction company and loan sales advisor Auction.com hired Elizabeth O'Brien as managing director and senior vice president to lead the company's expansion into the residential mortgage notes business.

Radco Cos., a real estate asset manager and consultant, has acquired multiple bank-owned multifamily developments in its hometown Atlanta.