Servicing

Fewer U.S. commercial mortgage-backed securities loans are slated to come due in 2012 than this year, according to a Fitch report Friday.

What does it say for the state of the upended mortgage industry that Standard & Poor's can report the positive news that there is now only 47 months of shadow inventory on hand? Remember, shadow inventory is seriously delinquent or foreclosed real estate that has not yet even been listed for sale—mostly because of the glut of foreclosed properties already in the market.

Freddie Mac said Friday it would delay its regularly scheduled Reference Bills auction announcement until Monday due to anticipation that Hurricane Irene could have an effect on capital market participants in New York and other parts of the East Coast.

Federal Reserve chairman Ben Bernanke criticized policymakers Friday for the political wrangling over raising the country's debt limit, and warned that more such events could do even greater harm to the economy.

3Point Asset Management, Irvine, Calif., has hired Ron Millar as AVP in charge of sales and training.

Warren Buffett's $5 billion public vote of confidence in Bank of America, happily for him, does not require actual confidence. The terms of the legendary investor's deal, which grants Buffett's Berkshire Hathaway Inc. $5 billion in perpetual preferred stock and warrants to buy B of A stock at just over $7 a share, include no lockup period.

Not only are residential loan applications booming, but nonbanks increasingly are tapping their warehouse providers for additional credit.

Senator Barbara Boxer, D-Calif., is pressing the GSE regulator to adopt several changes to the Home Affordable Refinancing Program, allowing Fannie Mae and Freddie Mac to refinance more underwater borrowers.

Freddie Mac purchased $21.7 billion of mortgages from its seller/servicers in July, its worst acquisition month of the year and only about half of what it bought in January.

Brennan Investment Group LLC, a Chicago-based private real estate investment firm, has formed a joint venture with TriGate Capital LLC, Dallas, to purchase industrial properties across the nation.