Servicing

The number of completed foreclosures in Massachusetts dropped by 44% in February to 515, down from 917 during the same month last year, according to The Warren Group.Foreclosure petitions also saw a year-to-year decrease of 67% from 2,122 in February 2010 to 694 this year.

Top Republicans on the House Financial Services Committee are once again criticizing Elizabeth Warren, who is leading the Consumer Financial Protection Bureau creation, for her role as an advisor in the mortgage servicer settlement talks.

Refinancing activity is dropping rapidly in the industry and is starting to affect MBS issuance by Fannie Mae.

Arkansas has become the 22nd state to restrict private transfer fees which require a percentage of a home's sales price be paid to a private third-party each time the property is sold — often for up to 99 years.

The Department of Housing and Urban Development late Wednesday named former Freddie Mac executive Robert C. Ryan acting commissioner of the Federal Housing Administration, replacing the departing David Stevens.

Lewis Ranieri, the co-inventor of the MBS, on Wednesday predicted that the new 'qualified residential mortgage' rule will push more borrowers into non-QRM loans who would normally qualify for a Fannie Mae or Freddie Mac product.

A fire that destroyed a five-story condominium building in August 2010 just two days before the original closing date did not hinder Mountain Real Estate Capital from acquiring the distressed property this March from Capital One Bank.

Tranzon Auction Properties has been selected by TD Bank to market and auction over 300 properties throughout the Southeast.

Fannie Mae has added the Cooper Castle Law Firm LLP to its retained attorney network.By being named to the network, the Las Vegas-based law firm is eligible to receive foreclosure and bankruptcy referrals relating to Fannie Mae loans in Nevada.

Trailing only Fannie Mae and the Department of Housing and Urban Development,Memphis Investment Property Company is the largest home seller in the West Tennessee region, according to the Chandler Reports February 2011 numbers for state real estate transactions.