Servicing

In a best case scenario consumers might save upwards of $63 billion a year if Fannie Mae and Freddie Mac participated in a workable refinancing program for underwater borrowers, according to a new report from Moody's Investors Service.

Even though GSE and FHA loan limits will decline to $625,500 at midnight Friday, borrowers with high balance FHA-insured loans can still refinance these products as long as they don't engage in a cash-out refi.

It appears that rock bottom mortgage rates are starting to pay off for Fannie Mae.

Carrington Mortgage Services, Irvine, Calif., a fast growing retail/wholesale lender, this week hired Rick Sharga of RealtyTrac as executive vice president in charge of branding and marketing.

The Consumer Financial Protection Bureau is applauding the Treasury Department for guidance it issued Thursday that would help members of the military avoid foreclosure.

It appears that rock bottom mortgage rates have yet to cure the housing industry's woes.

Nine major servicers regulated by the Office of the Comptroller of the Currency completed 180,000 foreclosure actions in the second quarter, but these firms are still managing roughly 1.3 million borrowers who are going through the foreclosure process.

Banks in Europe will try to unload roughly 15 billion euros ($20 billion) of loans secured by commercial real estate in Europe through 2012 as they comply with tighter capital regulations, according to Situs Companies, a debt advisor.

Bank of America ranked first among all warehouse providers in the second quarter with $12 billion of funding commitments, a 20% decline from a year ago, according to new figures compiled by National Mortgage News.

The executive who helped build one of the world's leading real estate investment platforms at Morgan Stanley has landed in Miami, where he will oversee one of the country's largest home builder's workout business.