Servicing

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.

Auction.com plans to put out for bid at least two commercial real estate loan packages per month for the next three months totaling more than $1.86 billion.

Real estate listing and mortgage rate search website company Zillow registered with the Securities and Exchange Commission Monday, seeking to raise $51.75 million from the initial public offering of its common stock.

At the Fifth Annual SourceMedia Mortgage Servicing Conference in Dallas, attendees concerned about the future of their industry discussed proposals to change the mortgage servicing fee structure and the realignment of servicer incentives, changes in definitions and foreclosure timelines, the consequences of frequent regulatory updates and whether all these concentrated efforts are simply postponing the inevitable.

Mortgage servicers have gotten a reputation as the bad boys of foreclosure, putting people out of their homes and helping to power trends like a major American city (Detroit) losing 25% of its population in a decade.

The Federal Trade Commission has mailed 1,410 refund checks totaling an estimated $2.3 million to consumers allegedly defrauded by Home Assure LLC, a so-called mortgage foreclosure rescue service.