Servicing

Farmer Mac had net income of $18 million in the first quarter, enhanced by a $9 million gain in the fair value of financial derivatives. The government-sponsored enterprise also saw increased net interest income because of an increase in business volume and releases from its allowance for loan losses.

The National Association of Mortgage Field Services, working in collaboration with Lender Processing Services, has launched a new tool called Alliance that complies with code enforcement requirements.

Roughly 27% of underwater borrowers think it is acceptable to walk away from their mortgage obligations – double the number of consumers who thought so a year ago, according to a new study from Fannie Mae.

Driven by the continuing drop in mortgage rates, application volume increased 8.2% on a seasonally adjusted basis for the week ending May 6. But the number of refinance applications submitted is still well below levels seen last fall, according to figures compiled by the Mortgage Bankers Association.

Chatham Lodging Trust, a hotel real estate investment trust focused on investing in upscale extended-stay hotels, was the successful bidder in two separate bankruptcy court auctions resulting in aggregate investments of over $230 million.

Subprime credit default swap prices swung upward for the sixth straight month in April, making it the longest sustained rally of this type seen since 2007 -- and it may continue, according to Fitch Solutions.

Phoenix Realty Group has acquired a portfolio featuring three separate multi-story REO apartment buildings in Southern California for $21.5 million.

U.S. home prices fell 1.5% in March after declining 2.1% in February, according to the newly released CoreLogic house price index, which includes foreclosure and short sales.

After months of stalemate, the state attorneys general have proposed new terms to the top five mortgage servicers that drop some controversial provisions of their first attempt at a settlement, including a push to force banks to reduce principal on thousands of mortgages.

John Daurio, founder, chairman and CEO of Kondaur Capital, resigned from the nonperforming loan investor effective Monday with his second in command, John Kontoulis named as his replacement.