Servicing

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.

JPMorgan Chase originated $34 billion of single-family mortgages in the second quarter, down 6% from the prior period as it continues to cut back on correspondent lending.

As housing prices continue to slide, the loan-to-value ratios of always-performing loans have in many cases crept higher than those on defaulted loans, according to a new report from Moody's Investors Service.

Foreclosure related filings fell by almost 30% in the first-half to 1.17 million actions, but it appears much of the drop is attributable to processing and procedural delays, according to new figures compiled by RealtyTrac.

Those who've been holding their breath for a commercial real estate meltdown may want to exhale.

Federal Reserve Board Chairman Ben Bernanke told lawmakers Wednesday that fixing the nation's housing finance system remains "the main piece of unfinished business" in financial regulatory policy.

An analysis of 2010 expenditures for REO Allegiance reveals that the property preservation and eviction field services provider spent 42% of its revenue on minority- and women-owned contractors.

Since 2009, Wells Fargo has started or completed 687,047 mortgage modifications in its servicing portfolio.