Servicing

The primary units that private equity group TPG Capital acquired from MacDonald, Dettwiler and Associates will be grouped together and operated under the brand name DataQuick.

John Dickinson may have been more eloquent when he wrote the "Liberty Song" in 1768. But David Stevens, the new president and chief executive of the Mortgage Bankers Association, emphasized the same point at the group's annual secondary market conference in New York.

As GSE and other types of industry reform position the secondary mortgage market for a “do-over” of sorts, keep in mind some of the issues from the original formation of the MBS market that will likely have a role to play this time around, too.

After falling for four straight quarters, delinquency rates on construction loans appear to have edged up slightly in the first quarter, according to preliminary estimates from Trepp LLC.

Residential delinquencies have stabilized and charge-offs have eased, and the second dip in home prices has not been remotely as severe as its older twin. Nonetheless, enormous pools of home equity loans that in fact have little or no home equity standing behind them continue to sow doubts about the health of the nation's largest banking companies.

Over the past three years the sale of bulk servicing rights has been anemic, that is, unless Uncle Sam (namely the FDIC) has been the one doing the selling.

MERSCorp Inc., parent company of the Mortgage Electronic Registration Systems, named former CitiMortgage chairman and CEO Bill Beckmann its permanent replacement for retired president and CEO R.K. Arnold.

Moody’s Investors Service has downgraded the ratings of 184 tranches from 19 deals issued by Sequoia Mortgage Trust between 2002 and 2004, citing continuing deterioration in prime jumbo pools securitized before 2005.

A.M. Best Co. has affirmed the debt ratings of Genworth Financial Inc., but also maintained its negative outlook on the company, in large part due to its private mortgage insurance subsidiary.

The combined earnings of the 12 Federal Home Loan Banks totaled $358 million in the first quarter, up 10% from a year ago, the FHLB Office of Finance reported Friday morning.