Servicing

Home values showed the sharpest quarterly declines since 2008, falling 3% in the first quarter this year, according to Zillow’s real estate market report.

MountainView Servicing Group LLC still hopes to sell a $262 million bulk package of Fannie Mae servicing rights after the portfolio did not trade by its initial bid deadline.

Gramercy Capital Corp., New York, has defaulted on $791 million in first mortgage and mezzanine loans, as the loans reached their latest maturity date without a payment being made.

Freddie Mac expects to price an offering of about $1.1 billion in structured multifamily mortgage pass through securities during the week of May 16 for settlement on May 26 or thereabouts.

Alan Todd plans to join Bank of America Merrill Lynch in August as head of U.S. commercial mortgage-backed securities research.

A prominent Republican is raising concerns about covered bonds and the risks they may pose to the federal deposit insurance fund.

Republicans are strongly considering using a rare procedural move to prevent President Obama from making a recess appointment to install a director of the Consumer Financial Protection Bureau.

Residential servicers completed 36,400 HAMP modifications in March, a 39% jump from February, according to a new report from the Treasury Department.

A successful Pennsylvania program that helps unemployed workers make their mortgage payments could be revamped to help underwater borrowers, according to a report by economists at the New York Federal Reserve Bank.

Fannie Mae reported a $6.5 billion loss for the first quarter, after posting an operating profit of $73 million in the prior period.