Servicing

At the recent SourceMedia Loss Mitigation Conference in Dallas I sat down with industry experts for a chat on the latest in loss mit.

Although Bank of America – for now – is committed to staying in warehouse finance, it may exit that business as well.

Missing for nearly three years and thought to be possibly extinct in South Florida, the official bird of the housing boom – the construction crane – has been spotted again in downtown Miami.

The Federal Housing Finance Agency is on the verge of filing a barrage of civil claims against investment banking firms that packaged nonprime loans into mortgage-backed securities while misrepresenting the quality of the underlying collateral, according to a new published report.

Four million more borrowers with high LTV loans could be refinanced if certain impediments to the Home Affordable Refinance Program are corrected, according to Federal Reserve Board governor Elizabeth Duke.

The Federal Reserve Thursday afternoon slapped Goldman Sachs with an enforcement action, saying its Litton Loan Servicing division engaged in a "pattern of misconduct" tied to robo-signings.

The Federal Reserve might start purchasing agency mortgage-backed securities again if the Obama administration can cobble together an effective program to refinance Fannie Mae and Freddie Mac guaranteed loans, according to a new report from Keefe, Bruyette & Woods.

Nonprime lender/servicer Springleaf Financial late Wednesday priced a $242 million nonprime residential MBS, at a yield of 4%, according to market reports.

Goldman Sachs & Co. can complete the sale of its mortgage servicing subsidiary to Ocwen Financial Corp. now that the parties have agreed to a settlement with the New York superintendent of banks over alleged abusive services practices, according to a report in The Wall Street Journal.

MountainView Servicing Group, Denver, is auctioning off a $485 million portfolio of mortgage servicing rights backed by Fannie Mae loans.