Servicing

Green River Capital, an REO asset management and loss mitigation provider, has expanded its services into the commercial real estate market.

A pair of automated service providers said Monday they are partnering to provide more granular household-level borrower data within ethnic demographics.

CoreLogic released a tool Monday to let servicers run automated checks on pools of loans to determine if borrowers are protected from foreclosure by the Servicemembers Civil Relief Act.

RealtyTrac findings showing in May foreclosure filings decreased 2% from April and 33% from May 2010 bringing the monthly foreclosure activity to its lowest level since November 2007 ultimately are not indicative of housing market improvements. At best, the status quo persists.

There's an awful lot of distressed mortgage product out there. Using the MBA's most recent nationwide foreclosure percentage of 4.5% and applied to a universe of $9.5 trillion in residential holdings, that's $374 billion in distressed loans right there.

The National Credit Union Administration said Monday it has filed two suits against securities firms alleging violations of federal and state securities laws and misrepresentations in the sale of hundreds of mortgage-backed securities.

Ginnie Mae issuers sold $25.6 billion of mortgage-backed securities into the secondary market during May, down almost 4% from the previous month, according to new figures released by the Government National Mortgage Association.

Walter Investment Management Corp., Tampa, has reached another milestone in its efforts to raise capital to fund its purchase of Green Tree Credit Solutions LLC, by closing on the private placement securitization of $102 million in notes backed by residential mortgages, building and installment sales contracts, promissory notes, related mortgages and other security agreements.

Prospect Mortgage has been selected to offer financing as part of Fannie Mae’s HomePath Renovation Mortgage.

Ultimately, Ocwen Financial Corp.'s pending purchase of Litton Loan Servicing is likely to benefit the investors in the $45 billion of mortgages that Litton manages and some of the homeowners. That's because Ocwen has a record of moving faster than Litton to resolve troubled loans, either through modification or foreclosure.