Servicing

The recent wave of foreclosed properties around the country has created opportunities for real estate investors to acquire land, restore it and sell it to a new homeowner. But the biggest challenge in the process is getting enough funding for the investment.

The California Association of Realtors has partnered with Fannie Mae to launch a program designed to help realtors resolve problems after a short sale offer of any Fannie Mae-backed loan.

KDX Ventures plans to sell $142 million in multifamily loans for the Department of Housing and Urban Development on April 27.

Sales of distressed properties could pull home prices down by another 10%, according to CoreLogic chief economist Mark Fleming.

Mortgage originations at JPMorgan Chase dropped 29% since the end of 2010, kicking off a year where industrywide originations are projected to drop below $1 trillion.

An investigation by the National Fair Housing Alliance found that banks are allegedly not maintaining REO properties similarly in neighborhoods throughout the nation.

Home prices continue to decline in the West over the last three months by 4.3%, according to Clear Capital’s monthly Home Data Index Market Report.

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

Sandler O'Neill is adding two managing directors as well as three new sales professionals to its Chicago-based fixed-income group as part of an effort to strengthen its growing new-issue distribution of MBS and other fixed-income products.

JPMorgan Chase saw its mortgage-related revenue get hammered in the first quarter, falling a stunning 75% to $696 million (compared to 4Q), as originations declined and the firm focused resources on its massive servicing portfolio and dealing with legal issues tied to that business.