Servicing

In the rollercoaster world where REO and foreclosure volumes change on a monthly basis, title companies, lenders and servicers are trying to close as many real estate transactions as possible despite inventory levels being lower than previous years.

Our alliance members recognize the importance of improving the customer experience in mortgage servicing and they have been working hard to achieve that goal. An ongoing demonstration of the effort on reaching customers directly is the large number of outreach events that Hope Now has helped organize around the country since the crisis hit.

A report from Re/Max covering 53 different markets found home sales dipped nearly 13% between June and July, but increased by over 13% when compared with July 2010. The data is not seasonally adjusted.

Potential homebuyers are "spooked" by the stock market tumbling, the deficit mess in Washington and economic news, according to a Moody's Analytics economist.

The New York Stock Exchange has notified The PMI Group Inc., Walnut Creek, Calif., that it is not in compliance with the exchange's continued listing standard and faces suspension and delisting.

The large amount of maturing mortgage debt is an opportunity for institutional investors to acquire at good prices commercial real estate from sellers who are overleveraged, a report from a unit of BNY Mellon Asset Management declares.

The Dow had fallen more than 400 points and long-term rate-indicative 10-year Treasury yield had plunged to a record low below 2% at one point Thursday as the average weekly 30-year mortgage rate tracked by Freddie Mac hit a low not seen in over 50 years.

The biggest short- and long-term challenges facing commercial real estate going forward are the large amount of debt maturing between now and 2015, said an executive with Deloitte LLP.

Fannie Mae continues to ratchet up its requests for seller/servicers to repurchase delinquent loans, while its smaller rival, Freddie Mac, has actually reduced its buyback claims over the past four quarters.In its second-quarter financial report, Fannie said its outstanding repurchase requests totaled $9.6 billion at June 30, up $1 billion from the end of the first quarter.

A new coalition of faith-based and community organizing groups is calling on the state attorneys general to "stand firm" in their negotiations with the major banks and require principal reductions on underwater mortgages as part of any settlement.