Servicing

Bank of America Corp. chief executive Brian Moynihan's heavily anticipated speech Monday fell short of the hype, but it was enough to ease tensions.

Roughly 11 million residential properties – representing 22.5% of homes nationwide -- were in some type of negative equity position at June 30, a miniscule improvement from the first quarter, according to new figures compiled by CoreLogic.

Total Mortgage Services, a fast growing nonbank lender based in New England, has received final investor approval from Fannie Mae to service the GSE's loans, a move that sets the stage for the firm to hold MSRs.

The Obama administration is proposing to use $15 billion of government money for "land bank" opportunities to help communities with large concentrations of distressed commercial and residential properties.

The nation's top five ranked servicers continued to lose market share in the second quarter – compared to the same period a year ago – as refinancings and concerns about capital rules and MSRs affected their decisions to retain receivables.

A federal judge this week ruled that the court-appointed trustee overseeing the liquidation of Thornburg Mortgage, Santa Fe, can move forward with a lawsuit against Barclays Capital alleging the investment banker made improper margin calls that helped drive the jumbo lender/servicer into bankruptcy.

Residential servicing workers, in some cases, are going through six to 10 weeks of intensive training in preparation to become effective single-point of contact liaisons for at-risk borrowers.

Municipalities are using vacant property registration and code enforcement systems to cut back unprecedented foreclosure inventory management expenses.

Radian Guaranty Inc., Philadelphia, reported a decline of roughly 600 loans in its delinquent loan inventory for August. But new notices of problem loans (late payers) outpaced cures by about 1,600 loans.

Roughly 9.43% of commercial real estate loans – including multifamily product -- that have been securitized are now 30-days or more late, a record, according to new figures compiled by the Mortgage Bankers Association.