Servicing

There will be three separate commercial properties up for auction by the National Commercial Auctioneers on May 3 in Columbia, S.C.

In today’s rapidly changing real estate market where bank-owned REO property inventories are rising, accurate and reliable home valuations are important for mortgage and real estate professionals to make profitable and compliant decisions.

CMG Mortgage has hired Todd Hempstead, a Fannie Mae veteran of 25 years, to work with private investors interested in buying and securitizing conforming and jumbo mortgages.

Freddie Mac reported a 38% drop in refinancing volumes in March from the previous month and a corresponding 33% drop in MBS issuance, providing more evidence of the slowdown in mortgage lending.

Many predict calamity for the housing markets without them. Federal Reserve data tell a different story.As Congress prepares to debate how to replace Fannie Mae and Freddie Mac, those in politics and real estate who support a government-backed housing finance system are predicting calamity.

Despite evidence that some home prepurchase education and foreclosure prevention programs are working, inconsistent proof of the effect of counseling indicates the industry cannot quantify their level of efficiency.

Current and expected regulatory compliance requirements and loss mitigation challenges are pressing servicers to address shortages in well-trained, experienced staff.Supporters say mortgage servicing standards will help increase workout efficiency. But there is a catch.

A study sponsored by the Mortgage Bankers Association shows that despite evidence that some home pre-purchase education and foreclosure prevention programs are effective, inconsistent proof of the effect of counseling indicates the industry remains clueless about what works and what does not work.

Now more than ever effective loss mitigation techniques are needed. Today’s servicers need to look at every possible avenue—loan modifications, refinancings, short sales, deeds-in-lieu of foreclosure, doorknockers, everything—to help them cope with overdues that remain at the highest levels in a generation.

A state run program that provides loans to homeowners that can't make their mortgage payments due to a temporary job loss has a high success rate, according to a study by economists at the New York Federal Reserve Bank.