Servicing

There are approximately 4.1 million loans nationwide that are 90 days delinquent or in foreclosure, according to Lender Processing Services’ May Mortgage Monitor report.

Ally Financial Inc. indicated in a Wednesday SEC filing that it has received subpoenas from two regulatory entities in June that included requests for documentation related to certain mortgage activities.

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.