Servicing

It appears as though lower GSE loan limits may soon become reality, but that hasn't stopped housing, realty and mortgage trade groups from promoting the issue.

Rialto Investments, the distressed asset arm of home builder Lennar Corp., took a $10 million charge relating to its joint venture with AllianceBernstein LP in the third quarter.

Fannie Mae and Freddie Mac will hike their guarantee fees some time next year to better reflect "that which would be anticipated in a private competitive market," FHFA acting director Ed DeMarco said Monday morning.

What seems like a no-brainer — turning the hundreds of thousands of vacant, foreclosed homes controlled by the federal government into rental units — is going to be tough to accomplish.

The White House plan to refinance upwards of $2 trillion of problematic GSE loans is running into a roadblock: MBS investors, in particular foreign buyers that are allies of the U.S.

The Federal Housing Finance Agency pushed back last week against claims that Fannie Mae and Freddie Mac were sophisticated investors that should have done a better job of vetting their purchases of mortgage-backed securities.

Now that Walter Investment Corp., has officially purchased subservicer Green Tree Servicing, St. Paul, Minn., and its parent company, GTCH Holdings, LLC, it has changed certain job duties of executives that joined the firm.

Bank examiners are exploring whether the nation's depositories have accurately valued $845 billion of home equity and second liens, according to seven people with direct knowledge of the matter, according to a report by Bloomberg.

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.