Servicing

Fannie Mae has apparently doled out part of a large subservicing contract on Bank of America MSRs to the residential servicing division of International Business Machines, according to industry advisors who have been briefed on the deal.

It's not looking good for fans of keeping the higher GSE loan limits, but that hasn't stopped housing, realty and mortgage trade groups from promoting the issue through their elected officials.

A Fitch Solutions report Friday shows the summer rally in U.S. subprime credit default swaps ended abruptly in August when most performance trends were negative and only an improvement in certain modifications seemed hopeful.

The Federal Housing Administration is selling 11,000 to 13,000 foreclosed homes a month after re-engineering the way it manages and markets REO.

Some of the nation’s top banks including Bank of America and JPMorgan Chase – which also rank first and third, respectively in terms of housing receivables -- flunked Fannie Mae's latest test of mortgage servicers, but the GSE isn’t exactly saying that.

House appropriators this week introduced a temporary measure that will continue to fund government operations, including the flood insurance program, through Nov. 18.

Foreclosure activity increased 7% in August over the prior month – but was down 33% compared to the same month a year ago, according to new figures compiled by RealtyTrac.

Fixed mortgage rates fell to the lowest level in six decades for the second straight week, according to new figures compiled by Freddie Mac.

The once red-hot mortgage REIT sector is in for a cold dose of reality — which could spill over to the already-cool housing market.

David Stevens, who departed as the Federal Housing Administration commissioner back in the spring, is concerned that the government insurer's capital reserves could be hurt by the lack of house price appreciation and other factors.