Servicing

Distressed homeowners in Connecticut who are facing foreclosure now have another option to speak with a Bank of America representative to avoid losing their property.

The Federal Housing Finance Agency this week directed Fannie Mae and Freddie Mac to start transitioning to a new system where mortgage servicers pick the foreclosure attorneys they work with -- not the GSEs.

The risk management company RiskSpan and the law firm Lyons McCloskey have formed a strategic alliance to deliver innovative solutions to the default servicing industry.

The international real estate operating company Kennedy Wilson recently opened up a townhome community that it acquired from Bank of America.

The number of California homeowners brought into the default foreclosure process surged in the third quarter, according to the real estate information provider DataQuick.

Despite rock bottom interest rates, mortgage applications fell 15% for the week ending October 14 with purchase money loans hitting their lowest level in 15 years, according to new figures compiled by the Mortgage Bankers Association.

U.S. Bancorp, a top ranked player in residential mortgages, reported $17.2 billion of originations in the third quarter, more than double its home funding production in the prior period.

Residential home prices may get a boost from an unlikely source: a pickup in short sales, which occur after default, but before a foreclosure auction.

Morgan Stanley & Co. last week took a final round of bids on its residential servicing division, Saxon Mortgage, Ft. Worth, Texas, which holds $28 billion of contracts on its books, according to investment banking officials familiar with the situation.

After a long drought of mergers and acquisitions activity, the market for, among others, private-mortgage companies, is showing signs of life and recovery. If you own, operate or advise a middle-market company, $5 million to $500 million in revenue, what does this mean for you and your clients when thinking about shareholder liquidity or selling the business? And how can you improve the odds of getting a deal done?