Servicing

General Electric Co. and Capital One Financial Corp. have submitted bids for ING Group's U.S. online bank, according to combined press reports.

The National Credit Union Administration late Monday came to market with its 13th and final offering of NCUA Guaranteed Notes, selling $2.21 billion of mortgage-backed product to investors.

Despite a 35% decline in overall residential fundings in the first quarter, Fannie Mae and Freddie Mac continued to purchase refinanced, high loan-to-value loans at a decent clip under the Home Affordable Refinance Program.

Roughly 22.7% of all residential properties encumbered with a mortgage had negative equity at March 31, a slight improvement over yearend when the reading was 23.1%, according to new figures released by CoreLogic.

The Department of Housing and URBAN Development is speeding up federal disaster assistance to the states of Minnesota and Idaho rushing support to homeowners and low-income renters forced from their homes following flooding, landslides and mudslides during March and April.

Six regulatory agencies late Monday afternoon extended the comment period on the controversial risk retention proposal until August 1, after intense lobbying from various factions of the mortgage industry.

Monthly reports showing more stable loan modification performance patterns and new delinquency rates indicate the mortgage servicing market is becoming more predictable.Stable trends in recidivism, or redefaults on loan modifications, are “particularly” encouraging because they indicate long-term sustainability, according to Hope Now data from May 2010 to April 2011.

Uncertainties deriving from still unclear Dodd-Frank Act requirements on lender-placed insurance starting with disclosure forms have put mortgage insurers on the hot seat as they strive to provide services and get ready for further changes.

An attorney for Arch Bay Capital, Irvine, Calif., said the company “is not being sold.” His comment comes in response to a story published on the National Mortgage News website late last week.

The six regulatory agencies working on the risk retention rule are considering a proposal to extend the comment period until August 1, according to industry officials.