Servicing

Some struggling development districts around Omaha have turned to Chapter 9 bankruptcy as a way to restructure debt as they wait out an ailing housing market.

The Federal Housing Finance Agency is pushing back 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.

A New Jersey mortgage broker has been charged with submitting false information to qualify for 13 multifamily loans with the help of a loan coordinator at Paragon Federal Credit Union, Montvale, N.J.

With unemployment rates remaining at high levels and foreclosures continuing to be a prominent problem nationwide, real estate analysts have suggested that borrowers should consider a loan modification to prevent them from losing their property.

For the third time in the last four months, Trepp said the delinquency rate for commercial mortgage-backed securities has dropped.

As the summer home buying season winds down, auction companies are continuing to sell distressed properties in September.

With the support of more than 16,000 Americans, a Seattle homeowner was able to prevent Bank of America from issuing a foreclosure notice on her property.

MBS issuers have long enjoyed an exemption from onerous provisions of the Investment Company Act since the start of mortgage securitization in the early 1980s, but all that could change under a new proposal being weighed by the Securities and Exchange Commission.

A government streamlined refinancing program that would reduce monthly mortgage payments for a large number of borrowers appears more likely while insiders fret over its future cost burdens on borrowers, the government and investors.

Just like their peers in distress, borrowers with disposable income also favor one-on-one banking. Bank of America started implementing the face-to-face approach, so far deemed the most efficient foreclosure prevention tool in the market, to advise customers with $50,000 to $250,000 in "investable assets."