Servicing

Citigroup's North American residential mortgage business seems to be treading water in terms of originations and servicing.

Zillow increased the expected price for common stock in its initial public offering to $16-$18, up from last week’s estimate of $12-$14, according to a new filing with the Securities and Exchange Commission.

Forget the industry’s troubles with adapting to and managing HAMP. It has become very apparent that the increasingly stringent audit process is the next cog in the wheel that will surely jam up mortgage servicing.

BSI Financial Services this week expanded its specialty servicing operations by reaching an agreement with ENTRA Default Solutions to use its system to provide non-judicial foreclosure services.

Government National Mortgage Association issuers sold $26.2 billion of mortgage-backed securities into the secondary market in June, up 3% from the previous month, according to new government figures.

Bank of America is exploring the idea of selling roughly $40 billion of mortgage servicing rights tied to Freddie Mac loans, according to servicing officials and investors who have been briefed about the plan.

The bank-owned PNC Mortgage Thursday confirmed that it hired mortgage industry veteran E. Todd Chamberlain as its president and chief operating officer beginning August 8.

The “brain drain” at Freddie Mac continued this week with the news that Robert Bostrom, the GSE’s general counsel and executive vice president, is leaving to join the law firm of SNR Denton.

Moody’s Investors Service said late Wednesday its decision to put the U.S. Government’s debt on review for possible downgrade could have implications for certain rated residential mortgage products.

First Guaranty Mortgage, McLean, Va., said it will offer Fannie Mae HomePath and HomePath Renovation Mortgage products to borrowers through both its retail and wholesale channels.