Servicing

Wells Fargo & Co. has invited 9,500 distressed customers to a two-day Home Preservation workshop scheduled for Sept. 8 and 9 in Atlanta, the city where it introduced one of the bank's first foreclosure prevention workshops in 2009.

A coalition of industry groups is urging Congress to act quickly to maintain the GSE loan limit at $729,750, saying the pending expiration is hurting both home sales and application volume.

When the Federal Housing Finance Agency late Friday unveiled its $200 billion lawsuit against investment banking firms that sold faulty MBS to Fannie Mae and Freddie Mac, it also targeted executives who signed the original shelf registration documents on the securities in question.

The state attorneys general have a secret weapon in their negotiations with the largest mortgage servicers: the results of a HUD investigation into the banks' robo-signing practices.

The Federal Housing Finance Agency late Friday filed a massive multi-billion civil suit against 17 firms that played a role in selling faulty subprime MBS to Fannie Mae and Freddie Mac – including the government owned Ally Financial and Fannie's biggest customer at one time, Countrywide Financial Corp.

MountainView Capital Holdings, Denver, said one of its investment funds was the winning bidder on a $282 million pool of residential loans auctioned off by the Federal Deposit Insurance Corp.

The percentage of HAMP modifications completed by mortgage servicers fell 10% in July from the prior month while the percentage of proprietary restructurings rose 11%, according to new government figures.

The delinquency rate on securitized multifamily mortgages fell 50 basis points in August, but the loans continue to be the worst performing property type in the commercial MBS market.

Mortgage companies cut 1,500 full-time employees from their payrolls in July, according to new government figures released Friday morning.

Field services provider Safeguard Properties has decided to open a second facility in Ohio to accommodate its overall business growth and expansion.