Servicing

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.

National home values experienced the smallest decline from the first quarter to the second quarter in more than four years, decreasing only 0.4%, according to a Zillow Inc. real estate market report.

GMAC Mortgage and the state of Maryland are working on a web portal that will exchange foreclosure mediation documents electronically.

To attract private capital into neighborhoods that are recovering from foreclosure, the Department of Housing and Urban Development has launched a Web-based tool that displays the location of all foreclosed properties owned by Fannie Mae, Freddie Mac and the Federal Housing Administration.

A.M Best Co., Oldwick, N.J., has cut its financial strength ratings to "A" from "A+" and issuer credit ratings to "a-" from "aa+" of the property/casualty units of Old Republic International Corp., Chicago, in large part because of the problems the parent company is having with Republic Mortgage Insurance Co.