Servicing

The PMI Group late Friday told its mortgage banking clients that it has immediately halted the writing of all new insurance policies.

Interactive Mortgage Advisors, LLC, said it will auction off an $88 million bulk mortgage servicing package tied to Fannie Mae, Freddie Mac and GNMA loans.

Although mortgage rates hit a 50-year low last week, don't expect them to bail out the ailing U.S. housing market.

The recent rise in refinance applications has prompted economists at the Mortgage Bankers Association to boost their origination forecast for the second half of this year by over $90 billion.

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.