Servicing

Loan officers are still licking their wounds in the wake of the Federal Reserve's new (restrictive) loan officer compensation rules, but if anyone's celebrating it's the folks whose job is to actually hire LOs, and their wholesale counterparts, account executives.

BlackRock Inc. has named a new global head of real estate to oversee both debt and equity investment products.

Wells Fargo & Co., which dominates the nation's residential lending market, saw its home fundings tumble by 34% to $84 billion in the first quarter as higher rates took a bite out of refinancings.

In order to appeal to a broader range of consumers, Beazer Homes has launched a new pre-owned homes division to go along with its new home sales division.

Infinity Valuation Services is now offering its broker price opinions and appraisal services to include the valuation of retail or nondistressed properties.

REO Allegiance has been selected by 24 Asset Management Corp. to do property preservation and field services.

RE/MAX says that home sales jumped nearly 39% in March and that almost all of the 54 metropolitan markets it tracks experienced double-digit gains compared to February.

Refinancings caused loan production to spike in the fourth quarter but independent residential lenders experienced a 24% decline in how much they earned per loan, according to a new report from the Mortgage Bankers Association.

Moody's Investors Service this week downgraded its ratings on $8.2 billion of prime jumbo MBS issued by Wells Fargo & Co., while affirming some of its ratings.

Mortgage lenders issued $24.1 billion of Government National Mortgage Association-backed MBS in March, an 8% decline from February, and a sign of slowing volume in the FHA/VA market.