Servicing

Insiders agree that while best loss mitigation strategies vary case-by-case including a loan modification, a deed-in-lieu, a short sale, doorknockers and face-to-face interaction, or the one point of contact, servicing compensation remains a key mortgage industry challenge for both servicers and their third party service providers.

Yet another RealtyTrac U.S. Foreclosure Market Report blends in with recent past industry news that ultimately sugarcoat a reality where the effects of the economic crisis and foreclosure processing delays due to regulatory requirements or pending litigation often are immensurable.

Ginnie Mae issuers sold $27.8 billion in mortgage-backed securities into the secondary market in July, up 6% from the previous month, according to the Government National Mortgage Association.

Green River Capital, an REO asset management and loss mitigation provider, has fulfilled requests from real estate agents by creating a mobile device application.

Conventional refinance mortgage application numbers affected by low rates during last week's market volatility are expected to come in roughly around 20% lower than they were when the Mortgage Bankers Association's application index hit its peak last year, according to a Credit Suisse report Monday.

Distinctive features related to principal forgiveness in an unusual modification program Ocwen recently started could improve efforts made to resolve underwater loans in securitizations, according to a Moody's Investors Service report Monday.

Mortgage fraud continued at elevated levels in fiscal year 2010 and the Federal Bureau of Investigation continues to "dedicate significant resources to the threat," the agency says in its FY 2010 Mortgage Fraud Report.

Ellie Mae, Pleasanton, Calif., has acquired Del Mar DataTrac Inc., San Diego, for $17.2 million cash at closing, and future cash payments of $3 million, $3 million and $2 million to be paid over the next three years.

Nearly three-quarters of commercial banks surveyed by the Federal Reserve Board cited the lack of demand for single-family loans by creditworthy borrowers as the major factor for the slow pace of mortgage lending.

More homeowners say they are under water on their mortgage and more Americans are pessimistic about house prices, according to a quarterly consumer survey by Fannie Mae.