Servicing

Freddie Mac's issuance of mortgage-backed securities declined in May for the fifth consecutive month to a 27-month low as refinancing activity continues to wane.

Ellie Mae and Lenders Processing Services were the only mortgage-related stocks bucking the negative trend on Wall St. Thursday morning, as the Dow Jones Industrial Average, once down 235 points on the day, was still off 156 at 1 p.m.

Morgan Keegan & Co. Inc. will pay $200 million in restitution to subprime and mortgage-related bond fund investors to settle multi-regulator enforcement proceedings related to improper marketing and insufficient disclosures.

Many commercial real estate investors are aggressively buying properties as they believe the industry's overall fundamentals are stabilizing and in certain sectors and regions, even improving, the second quarter PWC Real Estate Investor Survey found.

The Rialto Investments segment of Lennar Corp., Miami, which purchases problem assets, saw its operating earnings increase in the company's second fiscal quarter (which ended May 31) over the same period last year but the homebuilder's financial services unit saw operating earnings decline due to decreased volume in the mortgage and title businesses.

The House Financial Services Committee has approved a bill to permit federally insured banks to issue covered bonds that are collateralized by mortgages and other assets.

Potential issuers of private-label securities are considering a structure that will require the primary servicer to hand over newly delinquent home mortgages to a special servicer, according to a credit rating agency official.

Fannie Mae has recruited Susan R. McFarland to be the company's new chief financial officer.

Who needs to worry about MBS risk-retention rules when you can hold fixed-rate mortgages in portfolio?

A coalition of 44 industry, consumer, community development andcivil rights groups have banded together to oppose a regulatory proposal on risk retention that they claim would increase the cost of mortgage credit for average Americans and goes beyond the intent of Congress.