Servicing

PMI Group Inc., Walnut Creek, Calif., said it started on July 1 to write new business in two states through a subsidiary it set up as a contingency for when its main mortgage insurance underwriting subsidiary would exceed the risk-to-capital ratio mandates that 16 states have.

TSS Software Corp. added a transaction-based pricing option to its TitleSphere software-as-a-service for HUD-1 and Good Faith Estimate document preparation.

Bank of America has named Mike Hall to replace Paul Szymanski as the head of its warehouse lending business. Szymanski left B of A to reunite with former Countrywide Credit Industries president Stanford Kurland and start a warehouse lending business at PennyMac.

Local housing counselors are racing to sign up unemployed and underemployed homeowners by July 22 so they can qualify for federal loans that cover a portion of their mortgage payments for up to 24 months.

Second quarter bank and thrift earnings could see "some pressure" as a result of "relatively weak" revenues from their mortgage banking businesses, a report from FBR Capital Markets warns.

The new era in field services has changed the job description for both field service companies and their employees.

The crisis has turned property valuations into one of the biggest challenges for the mortgage industry, especially for managers of bank-owned properties feeding demand for valuation tools.

A new alliance between the U.S. Conference of Mayors and Wells Fargo Home Mortgage, designed to address foreclosure prevention, property disposition, homeownership promotion and community development over a three-year period, will combine strategies developed by Wells Fargo and outreach initiatives conducted by the mayors and their constituents.

Florida’s condominium owners may have won a few legal battles that could teach a thing or two to peers facing foreclosure related hardship in other states.

Much in the spirit of “we all are in this together,” city officials from America’s endangered cities are tapping into the wisdom of cross-discipline experts to examine housing and overall economic challenges to find long-term solutions.