Servicing

National servicing standards “are clearly doable,” according to New York State banking superintendent Richard Neiman. In a speech at the SourceMedia Mortgage Servicing Conference here last week, Neiman called for a “a renewed level of cooperative federalism.”

To spark more interest in its massive holdings of foreclosed properties, Fannie Mae is offering to cover up to 3.5% of closings for homeowners who can close by June 30.

A proposed settlement with the nation’s top five residential servicers could prolong the foreclosure crisis, drive up mortgage interest rates, slow new home construction and cost $7 billion to $10 billion a year, according to a study from three top economists.

A year ago, the folks who worked in Freddie Mac's multi-family section were sitting around waiting for the phones to ring. Now they can't keep up.

Southern Trust Mortgage Co. of Virginia Beach late last week told its loan brokers that it would exit the channel, citing what it calls "increasing compliance implications" tied to the Federal Reserve's new loan officer compensation rule.

What will the shape of a new secondary market look like?It could be one where lenders shun the 30-year fixed-rate mortgage.

Fitch Ratings said that the climb toward an expected 10% CMBS delinquency rate has slowed based on its latest index result.

The dollar number of U.S. fixed-rate commercial mortgages that were liquidated in March rose by 49% from February, according to Trepp. However, the majority of loans with losses have losses of less than 2%.

Montgomery County Employees FCU announced it is now offering members a HarmonyLoan mortgage, which adjusts its interest rate at the member’s call.

The Obama Administration’s white paper on the future of the government-sponsored enterprises may have muddied the issue as much as it clarified it.