Servicing

Short sale timelines and completions are improving, but servicing executives also know their industry can have better results in the government-backed Home Affordable Foreclosure Alternatives program, according to panelists at this week’s Best Practices in Loss Mitigation Conference in Dallas, sponsored by National Mortgage News.

Six Federal Home Loan banks have launched a salvo against Bank of America Corp.'s proposed $8.5 billion mortgage bondholder settlement, suggesting the payout may need to be triple that amount.

Sen. Robert Menendez, D-N.J. is demanding the release of federal reviews of 14 banks that have agreed to fix their foreclosure processes and reimburse homeowners for any harm caused.

Insurance giant MetLife Inc. said Thursday it plans to sell its banking affiliate but will remain in the residential finance and servicing business through its MetLife Home Loans division.

A Florida Bar Association opinion could have costly legal ramifications for banks embroiled in the robosigning controversy.

The Neighborhood Assistance Corp. of America has filed a lawsuit against the Department of Housing and Urban Development, accusing the agency of "trying to silence and undermine" the homeowner assistance group.

The California Association of Realtors declared victory in getting a bill signed into law that prohibits junior lien holders from pursuing a deficiency judgment on short sales.

Second quarter mortgage banking revenue at U.S. Bancorp, Minneapolis, was $239 million, up 20% from the first quarter's $199 million but down nearly 2% from the second quarter 2010's $243 million.

Looking to expand its service advisory platform in the commercial mortgage loan, investment sale and real estate owned markets in the Northeast, Helios Capital has decided to undergo changes to its business model.

Commerce Velocity has made upgrades to its optimizer solution in order to help servicers address consent orders relating to unsound practices regarding mortgage loan and foreclosure processing.