Servicing

As part of a joint purchase, Hudson Realty Capital has acquired a portfolio of 97 acquisition, development and construction loans from the Federal Deposit Insurance Corp. through its Small Investor Program structured sale.

The huge sell-off in the stock market on Aug. 4 capped a week of declines in the Dow Jones Industrial Average which in turn helped to push the average contract rate on the 30-year fixed-rate mortgage down another 8 basis points that week.

With Bank of America dangerously weighed down by costly acquisitions, its longstanding contention that it could jettison its troubled mortgage unit Countrywide must hold considerable appeal within the company's executive offices.

Bank of America is trying to sell a $10 billion chunk of Freddie Mac mortgage servicing rights, after failing to unload a larger $50 billion package of MSRs, according to industry officials.

Citigroup on Tuesday afternoon revealed that it recently hired Mark Danahy to head its residential origination division, which ranks among the top five in the nation.

The Federal Reserve's pledge on Tuesday afternoon to keep short-term rates low through 2013 should sustain relatively favorable mortgage market conditions for quite some time.

Everyone is fighting for their own.Progress in the enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act’s “key customer and investor protections” are threatened by efforts of industry groups to weaken the rules and stop the funding of the agencies responsible for making those reforms a reality—at least in the view of the Consumer Federation of America.

The ongoing crisis-related confrontation between state regulators mitigating customer rights and trade organizations vouching for the mortgage industry continues to generate new regulatory updates that increase the foreclosure backlog.

Sand Canyon Corp., a subsidiary of H&R Block that holds the remnants of the Option One Mortgage business, will pay a $10 million settlement to Massachusetts and institute a loan modification program providing an estimated $115 million of additional relief to consumers.

Walter Investment Management, the proud new owner of Green Tree Servicing, posted a $3.4 million loss in the second quarter, after booking $9 million of transaction costs related to the deal.