Servicing

Homeland Security Capital Corp., Arlington, Va., has made its second acquisition in the mortgage and settlement services space by buying Timios Inc., a nationwide provider of title and escrow services for $1.15 million, plus contingency payments of up to $1.35 million over the next 12 months.

Homeowners who originated their mortgages during the peak of the housing boom with unfavorable loan terms are getting more frustrated with their inability to refinance with mortgage servicers, according to the J.D. Power and Associates 2011 U.S. primary mortgage servicer satisfaction study.

The stabilization of the housing market and foreclosure rate improvements are highly dependent on—among other factors—the efficiency of loss mitigation tools used by lenders and servicers, which is why attendees at the SourceMedia Third Annual Best Practices in Loss Mitigation Conference in Dallas discussed at length various issues pertaining to the present state of the market, including best servicing practices and loss mitigation tools.

A new report by Amherst Securities Group examines how the recent Bank of America settlement has the potential to significantly impact Countrywide securities that comprise the Covered Trusts. Although the market seems to treat these securities in the same way, Amherst said that the impact will vary from security to security.

U.S. senior fixed-income investors are taking a more conservative view of cross asset credit conditions on the back of recent macroeconomic concerns, according to a Fitch Ratings fixed-income forum survey of fixed income professionals, conducted in June.

Arizona State CU has begun offering its members low-down payment, low-rate loans to buy homes currently owned by Fannie Mae, the Phoenix-based credit union said.

It's hard to tell where you’re going to find a good loss mitigation idea. At the SourceMedia Loss Mitigation Conference held in Dallas recently, a participant said the government’s HAMP modification plan was a good loss mit strategy.

CU Companies, a mortgage service organization owned by credit unions in the New Brighton, Minn. area, has launched a correspondent purchase program for member institutions.

The heads of CMBS trading at Citigroup and Goldman Sachs departed from their respective firms late last week.

When it comes to residential finance and the nation's megabanks, the second quarter was a case of "the bigger they are, the more they suffer" with glimmers of hope here and there.