Servicing

CoreLogic’s April shadow inventory report revealed positive signs for a possible recovery in the housing industry.

Home remodeling activity has experienced 18 consecutive months of growth, according to homebuilding data provider BuildFax.

Looking to increase its capacity and capabilities in residential asset management services, Carrington Property Services has realigned its operations into three divisions.

Since strategic defaults peaked in Q4 2008, mortgages that are 60 days delinquent have fallen every quarter through the middle of 2010, Experian said in its Market Insight Snapshot report.

Black Castle Developments has entered into escrow $1 million to acquire a 50-unit apartment complex in Fresno, Calif.

The Realtors' leading indicator of future home sales jumped 8.2% from April to May and it is up 13.4% from a year ago with all four regions of the country showing an uptick in sales contracts.

Bank of America Corp.'s proposed settlement of mortgage-backed securities claims against its Countrywide unit would force private-label investors in 530 Countrywide trusts to accept the bank's $8.5 billion offer, B of A officials said Wednesday.

Bank of America's pending settlement related to hundreds of billions of dollars worth of Countrywide-issued first-lien RMBS released Wednesday would include not only an $8.5 billion cash payment to trusts involved but also about $400 million of servicing changes and improvements, according to an investor law firm involved.

Green River Capital, an REO asset management and loss mitigation provider, has named Lorenz Schwarz as its chief operating officer.

For the second consecutive week, mortgage application volume declined, this time by 2.7% for the week ended June 24, according to the Mortgage Bankers Association. The drop in application volume occurred in spite of the fact interest rates for the 30-year and 15-year fixed-rate loans were at their lowest level since last November.