Servicing

Annaly Capital Management, one of the largest mortgage investing REITs in the U.S., posted net earnings of $120.8 million in the second quarter, compared to a loss of $218.2 million in 2Q 2010.

In one of the first actions of its kind, the National Credit Union Administration late last week filed a civil claim against a local real estate appraiser in Salt Lake City, saying he provided a faulty appraisal for a loan that caused roughly $400,000 in losses at the defunct Utah Central Credit Union.

Federal officials should go easy on overriding state sovereignty by changing foreclosure laws without a legislative mandate, former HUD general counsel Robert Couch told a Senate panel on Tuesday.

A recent federal appeals court decision is likely to cause the delay of dozens of pending Dodd-Frank Act regulations.

On Tuesday, Freddie Mac suspended Republic Mortgage Insurance Co. as an approved mortgage insurer, according to an email it is sending to its sellers.

Tuesday was a bad day for mortgage stocks as investors switched their worries from the debt ceiling compromise to the overall economy, an attitude that took out most of the publicly traded mortgage related stocks as well.

Fannie Mae purchased $41.4 billion of home mortgages from its seller/servicers in June, its best purchase month of the second quarter, and a sign that originations in the primary market may be on the upswing.

Consumers who refinance are continuing to pay down their loans, at least in part, hoping to save thousands of dollars over the long haul, according to new figures compiled by Freddie Mac.

First Guaranty Mortgage Corp., McLean, Va., has rolled out its new line of products for underserved niches aimed at correspondent lenders.

Tied to the agency’s Servicing Success Program, Freddie Mac’s new ranking system took off this month replacing the traditional performance tiers with more realistic valuations that open the door for improved servicer activity reviews and planning of needed remedial action.The new monthly ranking of a servicer’s performance and company profile is based on points earned during the prior month. A ranking is unacceptable when the scorecard places the servicer in the bottom 25% of all ranked servicers—which is when Freddie will review potential corrective intervention.